Tesla make 1 billion profits from it Bitcoin holding

[Alanaz]

If I am not wrong then Tesla decided to remove bitcoin from their payment system.
Does anyone out of you know if they finally decided to accept it again?

From the news I read, Tesla is at its final stage of development to start accepting crypto payment again and the reason the cryptocurrency payment on Tesla was suspended at first was not stated but from the look of things the company has realized how vital it is for the company to accept Bitcoin. So am sure before the end of the year Tesla will resume Bitcoin payment.

This plan has even been mentioned in the financial statements for the third quarter of 2021 which they submitted to the SEC.
and their reason a while ago when they suspended payments via crypto was due to the rapid increase in the use of fossil fuels for mining and transaction of those crypto assets, especially coal, which causes the worst emissions of any fuel.
but now for them to see another reason according to Musk's statement which mentions that Bitcoin is turning more to renewable energy and many coal-fired power plants have been shut down, especially in China.

[mindrust]

If Tesla (EM) did not sell all that BTC, then it would be more accurate to say that it is an unrealized profit - and EM has stated that it has no intention of selling that BTC, although this may change at any time. In addition, Tesla appears to have bought a total of 46 000 BTC at an average price of $32 610, but sold 10%, so the total amount of BTC is now 41 400  currently worth 2.375 billion.

In Q4 of last year, Musk purchased $1.5 billion in Bitcoin in one of the most adventurous moves ever undertaken by a corporate treasury. CFO Zach Kirkhorn praised the gambit as "a good place to place some of our cash that's not being used, and get a good return on that." By my math, Tesla bought 46,000 coins at an average price of $32,610. In mid-March, it sold 10% of its holdings, around 4,100 coins, at an average price of almost $60,000, booking a profit of $128 million (reduced to $101 million by an "impairment" charge).

Very accurate.

It is considered as receivables in way that the fruition of profit will only materialize upon the withdrawing/encashment of their BTCs to cash. Until it remains as BTC, it will be unrealized profit just like what you mentioned.

Same as stocks or any receivables- until they are received as cash then it cannot be considered as profit as they will still be recognized as investments or as an asset. Regardless, however, the fact that Tesla has remained faithful in HODLing their BTCs means a lot for the future of cryptocurrencies.

Soon democrats in the US will tax those unrealized gains as well and then it won't look as good as it does now.

https://www.bloomberg.com/news/articles/2021-10-26/democrats-new-tax-target-is-5-trillion-in-billionaire-wealth

With their latest tax proposal, Democrats are going after an elusive target: U.S. billionaires, and their growing piles of untaxed investment gains.

If this proposal becomes law then expect a very sharp drop in the stocks market, not only tesla and that will probably trigger a drop in crypto too. Commies are going full retard on profits.

[eaLiTy]

~
Soon democrats in the US will tax those unrealized gains as well and then it won't look as good as it does now.

I am watching all the craziness that is going on in the US and i cannot understand what a demented Biden administration is doing giving away free money to people to break the law and to sit at home without any work and they want to impose high tax on anyone who is working hard. Bunch of idiots who might make an impact globally.

If this proposal becomes law then expect a very sharp drop in the stocks market, not only tesla and that will probably trigger a drop in crypto too. Commies are going full retard on profits.

If it becomes a law then everything will be affected including the cryptocurrency market. I hope it will not pass as a law because these stupid laws implemented in the US can have a global impact as some of the stupid governments around the world will follow them.

[RILWAN]

If I am not wrong then Tesla decided to remove bitcoin from their payment system.
Does anyone out of you know if they finally decided to accept it again?

From the news I read, Tesla is at its final stage of development to start accepting crypto payment again and the reason the cryptocurrency payment on Tesla was suspended at first was not stated but from the look of things the company has realized how vital it is for the company to accept Bitcoin. So am sure before the end of the year Tesla will resume Bitcoin payment.

This plan has even been mentioned in the financial statements for the third quarter of 2021 which they submitted to the SEC.
and their reason a while ago when they suspended payments via crypto was due to the rapid increase in the use of fossil fuels for mining and transaction of those crypto assets, especially coal, which causes the worst emissions of any fuel.
but now for them to see another reason according to Musk's statement which mentions that Bitcoin is turning more to renewable energy and many coal-fired power plants have been shut down, especially in China.

Yes the plan of Tesla Bitcoin gateway is mentioned in several news outlets and this is going to happen any moment from now as Bitcoin is one of the assets Tesla have invested on heavily lately. And their holding have yielded good profits in the recent Bitcoin bull run.

[Kadal Ijo]

This is the motivation for us to follow Tesla, I believe the big impact of Tesla investing in bitcoin will make many big companies to enter bitcoin, and this makes me optimistic that the future of bitcoin will continue to shine and this year can reach at least $100k .

[dezoel]

As Bitcoin price relies on around $58,000 investors are already recording their profits and one among them is Tesla, a company own and operated by Elon Musk a popular cryptocurrency whale. The company bought 43,200 Bitcoins sometime in February 2021 have yielded a 65% that is 1 billion dollars profits at the present Bitcoin price.

So, I am guessing they are very lucky for not selling their Bitcoin. They were really at the brink of selling the bitcoins they bought in the market, but I don’t know why they changed their mind and didn’t sell it anymore.

Even on Twitter when Elon Musk started making some comments that made people believe that he is no longer interested in Bitcoin, there were lots of speculation going round that Tesla must have sold their Bitcoin and that would result in the market crashing at anytime. But at some point nobody talked about it anymore, even those that talked about it were not able to prove that they really sold their coins. Is good to realize that they never sold it.

[Yamifoud]

As Bitcoin price relies on around $58,000 investors are already recording their profits and one among them is Tesla, a company own and operated by Elon Musk a popular cryptocurrency whale. The company bought 43,200 Bitcoins sometime in February 2021 have yielded a 65% that is 1 billion dollars profits at the present Bitcoin price.

So, I am guessing they are very lucky for not selling their Bitcoin. They were really at the brink of selling the bitcoins they bought in the market, but I don’t know why they changed their mind and didn’t sell it anymore.

Even on Twitter when Elon Musk started making some comments that made people believe that he is no longer interested in Bitcoin, there were lots of speculation going round that Tesla must have sold their Bitcoin and that would result in the market crashing at anytime. But at some point nobody talked about it anymore, even those that talked about it were not able to prove that they really sold their coins. Is good to realize that they never sold it.

Well, it was not sure if Elon Musk is telling the truth or not, or that he just want to divert the mind of the people to give no influence anymore. However, it wasn't believable as people have known already that Tesla company holds a huge chunk of Bitcoin, and Elon Musk is the author of such purchases.
Yes, indeed. If they decide to sell them all, it certainly affects and crashes the market price but we don't see it and it comes to our mind that they just hold it and we don't know why.

[elisabetheva]

This is the motivation for us to follow Tesla, I believe the big impact of Tesla investing in bitcoin will make many big companies to enter bitcoin, and this makes me optimistic that the future of bitcoin will continue to shine and this year can reach at least $100k .

It is certain that what Tesla has done will be followed by other institutions, because seeing the fact that holding bitcoin will certainly make its own profits because of the nature of bitcoin which is always increasing every time, and Tesla has known.
Tesla, apart from accommodating the purchase of vehicles with bitcoins, has also purchased bitcoins to be used as investments and the impact is now visible.

Of course, if institutions continue to move to buy bitcoin, it is certain that the increase in the price of bitcoin will be very significant and the possibility that bitcoin can reach prices exceeding $100K can be done. because of course investors will also compete to save bitcoin for a certain period of time until it increases and then sell it if it feels like it has made a profit.

[yazher]

This is the motivation for us to follow Tesla, I believe the big impact of Tesla investing in bitcoin will make many big companies to enter bitcoin, and this makes me optimistic that the future of bitcoin will continue to shine and this year can reach at least $100k .

It's not a problem to invest a huge amount of money as long as you know what you are doing and you have confidence that the result will gonna be the same or more than you expected. But as most of the users here say, bitcoins don't really need you to do hours and hours of research because people have already done it for you. All you need to do is invest in the right time where the price is not at its peak and when you found the right timing, all you need to do is patience and perseverance because the wait will gonna be long but surely have good results.

[blatchcorn]

All you need to do is invest in the right time where the price is not at its peak and when you found the right timing, all you need to do is patience and perseverance because the wait will gonna be long but surely have good results.

One more thing I wanna add is that Tesla earned 1 billion usd profit on investment that must be in billions usd (may be 10 billion usd or 20 billion usd). We can earn similar or even more profits in terms of percentage. As you said its about right timing, 100 dollars invested at right time can give you 50% ROI that will be more then what Tesla got. Focus on timing and your profit %, don't see the amount of profit.

[rizqoAD]

I think Tesla's decision to buy Bitcoin is a very appropriate step, because it has been proven that buying Bitcoin will provide benefits for the owner. this makes people or other large companies interested in investing in Bitcoin. This news is an impetus for other companies to join together to achieve success like Tesla. Currently Bitcoin investment has become very popular in the world, Bitcoin provides opportunities for people who want wealth but this is certainly not easy, because it takes effort and hard work.

[Myleschetty]

I think Tesla's decision to buy Bitcoin is a very appropriate step, because it has been proven that buying Bitcoin will provide benefits for the owner. this makes people or other large companies interested in investing in Bitcoin. This news is an impetus for other companies to join together to achieve success like Tesla. Currently Bitcoin investment has become very popular in the world, Bitcoin provides opportunities for people who want wealth but this is certainly not easy, because it takes effort and hard work.

Although Tesla investors/shareholders are the owners of the Bitcoin profit but their Bitcoin investment move was inspired by the MicroStrategy CEO who talk to Elon about the chance Tesla would have had if they invested in Bitcoin early before Elon and the board talked about it.

[seoincorporation]

If Tesla (EM) did not sell all that BTC, then it would be more accurate to say that it is an unrealized profit - and EM has stated that it has no intention of selling that BTC, although this may change at any time.

This lol. Technically, it really isn't considered as "profits" if the assets haven't been sold yet in the first place. It's quite misleading, but I guess Cointelegraph's goal was to make it misleading enough to trick people into talking about it, and here we are. 🤷‍♂️

We can call it a high-quality bait. As you mention, isn't profit if haven't been sold, so, it's a tricky word.

And one billion doesn't change anything to Elon Musk, he is at one point where isn't about money, his projects will keep growing and his fortune too.

[noormcs5]

This is the motivation for us to follow Tesla, I believe the big impact of Tesla investing in bitcoin will make many big companies to enter bitcoin, and this makes me optimistic that the future of bitcoin will continue to shine and this year can reach at least $100k .

It's not a problem to invest a huge amount of money as long as you know what you are doing and you have confidence that the result will gonna be the same or more than you expected. But as most of the users here say, bitcoins don't really need you to do hours and hours of research because people have already done it for you. All you need to do is invest in the right time where the price is not at its peak and when you found the right timing, all you need to do is patience and perseverance because the wait will gonna be long but surely have good results.

We are not talking about the retail investors at this time. Tesla and other companies think a lot before investing in any asset or currency.
Their decision for investment in bitcoin was right, and seeing the high returns many other investors will buy bitcoins. Right now only companies are buying bitcoin, i am thinking of a time when governments will buy bitcoin. 

[kiryan87]

This plan has even been mentioned in the financial statements for the third quarter of 2021 which they submitted to the SEC on https://wannaplay.news/news/.
and their reason a while ago when they suspended payments via crypto was due to the rapid increase in the use of fossil fuels for mining and transaction of those crypto assets, especially coal, which causes the worst emissions of any fuel .
but now for them to see another reason according to Musk's statement which mentions that Bitcoin is turning more to renewable energy and many coal-fired power plants have been shut down, especially in China.

[no-ice-please]

As Bitcoin price relies on around $58,000 investors are already recording their profits and one among them is Tesla, a company own and operated by Elon Musk a popular cryptocurrency whale. The company bought 43,200 Bitcoins sometime in February 2021 have yielded a 65% that is 1 billion dollars profits at the present Bitcoin price.

So, I am guessing they are very lucky for not selling their Bitcoin. They were really at the brink of selling the bitcoins they bought in the market, but I don’t know why they changed their mind and didn’t sell it anymore.

Even on Twitter when Elon Musk started making some comments that made people believe that he is no longer interested in Bitcoin, there were lots of speculation going round that Tesla must have sold their Bitcoin and that would result in the market crashing at anytime. But at some point nobody talked about it anymore, even those that talked about it were not able to prove that they really sold their coins. Is good to realize that they never sold it.

Well, it was not sure if Elon Musk is telling the truth or not, or that he just want to divert the mind of the people to give no influence anymore. However, it wasn't believable as people have known already that Tesla company holds a huge chunk of Bitcoin, and Elon Musk is the author of such purchases.
Yes, indeed. If they decide to sell them all, it certainly affects and crashes the market price but we don't see it and it comes to our mind that they just hold it and we don't know why.

Wouldn't it be public anyway whether Tesla holds Bitcoin or not? As a publicly listed company they would owe that information to investors/potential investors if I am not mistaken? Especially as Bitcoin is a highly speculative asset I would think that owning Bitcoin would at least require a note in their financial reporting.

[kanayaTabitha]

Wouldn't it be public anyway whether Tesla holds Bitcoin or not? As a publicly listed company they would owe that information to investors/potential investors if I am not mistaken? Especially as Bitcoin is a highly speculative asset I would think that owning Bitcoin would at least require a note in their financial reporting.

"Operating income increased substantially YoY mainly due to vehicle volume growth and cost reduction. Positive impacts were partially offset by ASP decline, growth in operating expenses, lower regulatory credit revenue, additional supply chain costs, Bitcoin-related impairment of $51M and other items"

This was written on telsa financial report of Q3 this year, they mentioned bitcoin in their financial summary.

Reference : https://ir.tesla.com/#tab-quarterly-disclosure

[Rehan Zakir]

Because Elon musk is in the early holder's of Bitcoin. He is holding Bitcoin when it's price very low. So, that's why he makes huge profit. Bitcoin holding is very beneficial. Because Bitcoin price increases massively within last year. And their holders makes huge profit. The year 2021 is very good for Bitcoin. Because in this year Bitcoin price makes their new All time high.

[worldofcoins]

Because Elon musk is in the early holder's of Bitcoin. He is holding Bitcoin when it's price very low. So, that's why he makes huge profit. Bitcoin holding is very beneficial. Because Bitcoin price increases massively within last year. And their holders makes huge profit. The year 2021 is very good for Bitcoin. Because in this year Bitcoin price makes their new All time high.

"Early holder of bitcoin"? huh?

If I'm not wrong then he bought bitcoins around 40,000 $/BTC.
That's another thing if bitcoin hits its all-time high, But the bitcoin that Elon Musk bought he hasn't sold yet if I'm correct.
So there's a possibility that he will continue to hold those for later gains or buy more when the price of bitcoin goes down.

In any case, 1B isn't that big of a profit for him, compared to what he could've had made in those Dogecoin pumps.

[carlfebz2]

Because Elon musk is in the early holder's of Bitcoin. He is holding Bitcoin when it's price very low. So, that's why he makes huge profit. Bitcoin holding is very beneficial. Because Bitcoin price increases massively within last year. And their holders makes huge profit. The year 2021 is very good for Bitcoin. Because in this year Bitcoin price makes their new All time high.

"Early holder of bitcoin"? huh?

If I'm not wrong then he bought bitcoins around 40,000 $/BTC.
That's another thing if bitcoin hits its all-time high, But the bitcoin that Elon Musk bought he hasn't sold yet if I'm correct.
So there's a possibility that he will continue to hold those for later gains or buy more when the price of bitcoin goes down.

In any case, 1B isn't that big of a profit for him, compared to what he could've had made in those Dogecoin pumps.

They wont really be selling out and its true that 1B is nothing if we do talk about general perspective on things and wont be surprised if they would be still holding on with the current state of price.

This is one of the benefits when you do invest out with bitcoin on early phase or bought in the dip which it could really potentially give out that profits that you are neither aiming or not expecting.

Tesla did make out some risk when its still 40k and now the price had come up which its understandable that they had indeed make profits.