Autos

Tesla is now sitting on $2.5 billion of bitcoin

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Elon Musk, CEO of Tesla, stands on the construction site of the Tesla Gigafactory in Grünheide near Berlin, September 3, 2020.

Patrick Pleul | picture alliance | Getty Images

Tesla is sitting on roughly $2.5 billion worth of bitcoin, according to a securities filing, giving the automaker a significant gain on paper just a few months after investing.

The automaker said its investment in the volatile cryptocurrency was worth $2.48 billion at the end of March. The company announced earlier this year that it had purchased $1.5 billion worth of bitcoin and planned to accept it as payment for vehicles.

Tesla said Monday it registered a net gain of $101 million from sales of bitcoin during the…



Source cnbc.com

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