Is the investment made by Elon Musk a winner? While it is always necessary to take a step back from the price of Bitcoin (BTC), Tesla can already be rubbing its hands. Indeed, since the company started acquiring BTC, the realized unrealized capital gain has exceeded one billion dollars.
In mainstream finance, some frowned upon Elon Musk’s bet. Why invest so much in Bitcoin? However, it is clear that today, the gamble of the whimsical CEO of Tesla was the right one.
The electric car company has just released its third quarter results. The latter marks a depreciation of Tesla’s BTC reserves of around $ 51 million.
However, as always with cryptocurrencies, it is necessary not to look immediately and to dive back a few months. However, since the beginning of the year, the realized capital gain has been around a billion dollars.
Of course, the price of BTC against the US dollar is quite volatile. We must therefore always remain cautious, even with the recent all-time high of over $ 66,000.
Indeed, if we stick to Tesla’s announcements since the start of 2021, the value of BTC reserves has only grown. In the first quarter, Tesla’s accounts already mentioned an aggregate bitcoin value of $ 2.48 billion.
So, taking into account the dates of both purchase and sale of bitcoins in Tesla’s possession, the overall value of Tesla’s bitcoin reserves has doubled. It has indeed gone from 1.33 to 2.67 billion dollars.