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Tesla has scored profits worth $1 billion on its bitcoin bet, a Wedbush analyst estimates
7 days ago - By Business Insider
Elon Musk.
Win McNamee/Getty Images
Tesla has made roughly $1 billion on its bitcoin investment, according to Wedbush analyst Dan Ives. The electric-vehicle maker is set to make more from bitcoin than profit from car sales in 2020, he said. Wedbush expects less than 5% of public companies to head down the same route. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Tesla has racked up paper profits worth $1 billion on its bitcoin investment as the price of the cryptocurrency soars, according to estimates by Dan Ives, an equity analyst at Wedbush Securities. "Based...
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