Tesla made $1B profit on its Bitcoin buy, says analyst

Cointelegraph

Published Feb 22, 2021 03:30AM ET

Updated Feb 22, 2021 05:20AM ET

American electric car giant Tesla (NASDAQ:TSLA) has seen some massive gains from its Bitcoin (BTC) investment, reportedly having made up to $1 billion in profit, according to a new report.

An analyst at Wedbush Securities, a private investment firm in the United States, has calculated that Tesla has made “roughly $1 billion” in the aftermath of its $1.5 billion Bitcoin investment. Daniel Ives estimated Tesla’s Bitcoin profits in an investor note on Saturday, CNBC reports.

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