How much money does Tesla make from bitcoin?

Tesla has made roughly $1 billion in paper profits from its investment into bitcoin, according to Daniel Ives, analyst at Wedbush Securities estimated. The company is “on a trajectory to make more from its Bitcoin investments than profits from selling its EV (electric vehicle) cars in all of 2020,” Ives said in a note published Saturday.

Is bitcoin worth $1 trillion?

Bitcoin has seen a huge rally this year, touching fresh record highs regularly. Bitcoin’s market value topped $1 trillion for the first time last week, and the cryptocurrency is up 94% year-to-date.

Will Tesla make more from bitcoin than EVs in 2020?

The company is “on a trajectory to make more from its Bitcoin investments than profits from selling its EV (electric vehicle) cars in all of 2020,” Ives said in a note published Saturday. This month, Tesla disclosed in a Securities and Exchange Commission filing that it had bought $1.5 billion worth of bitcoin.

How did Ives calculate bitcoin's price?

Ives did not explain how he got to that calculation. But according to CoinDesk data, bitcoin’s price has gone from an intraday high of $34,793.45 on Jan. 31 to an intraday high of $57,487.03 on Feb. 20, the day Ives published his note.