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According to Wedbush Securities, e-car giant Tesla has already made over $1 billion from its Bitcoin investment that was announced earlier this month.
In fact, the largest cryptocurrency turned out to be more profitable than the whole year of selling cars:
Based on our calculations, we estimate that Tesla so far has made roughly $1 billion of profit over the last month…To put this in perspective, Tesla is on a trajectory to make more from its Bitcoin investments than profits from selling its [electric vehicle] cars in all of 2020.
Bitcoin soared to a new all-time high of $57,553 on Feb. 20, up over 48 percent since Tesla revealed its $1.5 billion purchase.