TL; DR failure:
- Following the recent price increase, Tesla made about $ 1 billion in unrealistic profits from its bitcoin assets.
- More than 93% of the bitcoin supply is profitable.
A few hours ago, the price of Bitcoin reached $ 58,000 and increased a higher percentage of profits, including Tesla Holding Ilan Mask. It takes about 157 days to register that Bitcoin is trading at $ 58,000.
Tesla with $ 1 billion profit
Following the rise in the price of bitcoin, Tesla’s bitcoin assets (43,200 BTC) reached more than $ 2.5 billion, meaning that the company’s investment increased by more than 66%, equivalent to $ 1 billion in profits. The electric carmaker initially bought 48,000 BTC in February for $ 1.5 billion.
However, in the second quarter of this year, it sold about 10 percent of its assets up to 43,200 BTC, according to its founder, who tested bitcoin liquidity as an alternative to cash. They reported a net profit of $ 128 million from sales. Although the company has stopped accepting bitcoin payments, Ilan Musk has said they will continue to hold their bitcoins.
93% of bitcoin supply is profitable
Apparently Tesla is not the only bitcoin holder in profit. Glassnode gained a significant amount of bitcoin in circulation by raising $ 58,000, according to the chain analytics platform. Currently, more than 93% of the bitcoin supply is profitable, which represents the highest level in the last 5 months.
This number increases with the growth of bitcoin value. There are predictions that the largest cryptographic asset will cross the $ 100,000 mark per coin by the end of the year, confirming many criteria in the chain of this speculation, such as declining stock exchanges, the effects of whale aggregation, and so on. .
At the time of publication, however, digital currency was trading at $ 57,333 on CoinMarketCap, with a market value of over $ 1 trillion.