Thanks to Selling Bitcoin, Electric Car Manufacturer Elon Musk Print Cuan $ 272

Thanks to Selling Bitcoin, Electric Car Manufacturer Elon Musk Print Cuan $ 272

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  29th, April 2021 (1 week ago)

Bitcoin

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elon musk sells bitcoin


Launching Cointelegraph, Tuesday (27/4/2021), the company announced that it generated net income of US $ 272 million (around Rp3.9 trillion) from selling Bitcoin. Tesla also recorded a positive impact of US $ 101 million (around Rp1.5 trillion) as a result of the sale of these digital assets.
"Year after year, the positive impact of volume growth, regulatory credit revenue growth, gross margin increase was driven by further product cost reductions and Bitcoin sales," the company explained.
In a quarterly cash flow statement, Tesla wrote that the sales of digital assets had reached hundreds of millions of US dollars. Previously, Tesla was in the spotlight in February after disclosing a strategic purchase of Bitcoin worth 1.5 billion US dollars. At that time, this was equivalent to 7.7% of Tesla's gross cash position. Tesla at that time announced, "Will accept Bitcoin as a car payment without needing to convert it into fiat currency."
Outside of cryptocurrency activity, Tesla posted a net profit of $ 438 million during the quarter, marking an all-time high. Earnings per share reached 93 cents with revenues of 10.39 billion US dollars. Tesla itself expects more than 50% growth in vehicle shipments by 2021; implies a minimum delivery of about 750 thousand vehicles.
Author: Tanayastri Dini Isna


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