London Daily

Focus on the big picture.
Thursday, Sep 04, 2025

Tesla reveals $101 million bitcoin profit following its massive cryptocurrency investment

Tesla reveals $101 million bitcoin profit following its massive cryptocurrency investment

In February, Elon Musk's automaker announced that it had bought $1.5 billion worth of the cryptocurrency, helping its price soar even higher.

Tesla made a splash when it announced that it had bought $1.5 billion worth of bitcoin in February — and it's already profited more than $100 million from the investment.

Elon Musk's automaker on Monday said that it sold $272 million worth of digital assets during the first three months of 2021 and that it netted $101 million from the sale, which represented about 10% of its holdings at the time.

Tesla still has $1.33 billion in digital assets on its balance sheet, it said. It's not clear exactly where the other $171 million went, but converting bitcoin to US dollars can come with high fees.

The disclosure came as part of Tesla's first-quarter earnings report Monday afternoon, in which the company revealed $10.39 billion in revenue and made $438 million of profit for the three-month period ending March 31.

Tesla turned a profit thanks to $518 million it earned selling regulatory credits to other automakers, and the $101 million it brought in from selling bitcoin padded its bottom line as well. Bitcoin has surged about 60% since Tesla's February disclosure but is down slightly from an all-time high of more than $63,000 in April.

On a conference call with investors and analysts on Monday, CFO Zachary Kirkhorn said the company plans to continue adding bitcoin to its balance sheet from vehicle sales.

Musk has been known to hype up cryptocurrencies on social media and has contributed to bitcoin's massive rally by firing off tweets about it to his more than 50 million followers. His past tweets have also sent bitcoin's meme cousin, Dogecoin, soaring to unprecedented highs.

In March, Tesla began accepting bitcoin as a form of payment for its vehicles.

Comments

Oh ya 4 year ago
He is a member of the small hats so what did you expect. Pump and dump to a greater fool

Newsletter

Related Articles

0:00
0:00
Close
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
Pickles are the latest craze among Generation Z in the United States.
Deadline Day Delivers Record £125m Isak Move and Donnarumma to City
Nestlé Removes CEO Laurent Freixe Following Undisclosed Relationship with Subordinate
Giuliani Seriously Injured in Accident – Trump to Award Him the Presidential Medal of Freedom
EU is getting aggressive: Four AfD Candidates Die Unexpectedly Ahead of North Rhine-Westphalia Local Elections
Lula and Putin Hold Strategic BRICS Discussions Ahead of Trump–Putin Summit
WhatsApp is rolling out a feature that looks a lot like Telegram.
Investigations Reveal Rise in ‘Sex-for-Rent’ Listings Across Canada Exploiting Vulnerable Tenants
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
×