Monday, May 10, 2021

Elon Musk’s Tesla Gains Over $1 Billion in Less Than 45 Days of 1.5 Billion in BTC Purchase

Tesla, the electric car manufacturing company led by Elon Musk, purchased a whopping $1.5 billion worth of Bitcoin (BTC) a couple of days ago. It was a huge and least-expected purchase at that time.

The announcement of the huge buy shook not just the crypto space, but the whole world, boosting the popularity of the flagship cryptocurrency Bitcoin (BTC) further.

What needs to be noted currently about the investment is the profit already accrued by Tesla in less than 45 days of the huge buy.

Read Also: Bitcoin (BTC) Would Drop to $1,760 before Massive Upsurge –Popular Elliot Trader Predicts

Tesla Has Gained Over $1 Billion in Its Bitcoin (BTC) Investment

A well-known Bitcoin maximalist in the crypto space, Anthony Pompliano, has recently called the attention of the cryptocurrency community to the whopping gain already accrued by the electric car manufacturing company, Tesla.

According to Pompliano, Tesla’s return on its investment is now worth over $1 billion. He said the company bought the cryptocurrency when it was trading around $33,000.

Anthony Pompliano tweeted, “Tesla bought $1.5 billion of Bitcoin around $33,000. That means they have now made over $1 billion on that investment in less than 45 days. Elon Musk is a legend.”

Meanwhile, Pompliano had taken to Twitter on 17th February to reveal that Tesla has recorded more profit than the whole of 2020 in just a few days of investing in Bitcoin (BTC).

Read Also: Tim Draper Doubles Down On His $250,000 for Bitcoin (BTC) By the End of 2022

Pompliano wrote, “Tesla reported $721M in profit last year. They’ve already made ~$725M off their Bitcoin investment. Elon Musk is a legend.”

Bitcoin growing from $57K to $1M is the same as Going from $3.2k to $57K

A pseudonymous crypto enthusiast has shocked a vast number of cryptocurrency community members on Twitter, after comparing the trend of Bitcoin to $1 million from its current prices to the trend of Bitcoin from $3,200 level to current prices around $57,000.

The user known as Stack Hodler pointed out that their percentages are the same, indicating that Bitcoin (BTC) could simply hit $1 million with the same trend it maintained to record the current prices.

Read Also: Visa Gives Coinbase the Right to Issue Bitcoin Debit Cards

Stack Hodler, “In percentage terms, Bitcoin growing from $57K to $1M is the same as going from $3,249 to $57K.”

The tweet has since gained lots of reactions despite having less than 2,000 followers on Twitter.

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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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