At the current Bitcoin rate of $ 51,400, Tesla's 1.5 Billion Bitcoin purchase would result in a value of around $ 2.3 billion. This could mean that Tesla has already drawn around $800 million in profit from its investment. In the course of the announcement of the investment, Tesla had indicated that it was about the most effective possible use of otherwise unused capital.
It is therefore quite likely that Tesla's Bitcoin strategy is not geared towards the long term, but rather towards realizing profits in the short term.
So right now, Bitcoin seems more lucrative for Tesla than electric cars, but I am not sure if this is long-term for Tesla, based on what Tesla indicated.
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.
