The price of Bitcoin has grown by more than 50% since Tesla sold $1 billion BTC in July 2022.
Highlights
- Tesla bought $1.5 billion worth of Bitcoin in February 2021 at an average price of $36,000.
- Elon Musk-owned electric carmaker then sold BTC worth $272 million to boost its Q1 2021 accounting by $101 million.
- Tesla made roughly $165 million in profit from two separate Bitcoin sales in July 2022.
- Today, Tesla holds 10,725 BTC worth around $330 million, almost 15% below the procurement value from February 2021.
- Tesla currently sits atop an unrealized loss of around $56.6 million on its remaining BTC holdings, while its net profit to date sits at around $108 million.
- Wall Street analysts estimate that Tesla’s free cash flow in Q1 2023 could be nearly $2 billion.
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