Electric vehicle company Tesla currently holds over $1 billion worth of Bitcoin, with its holdings now totaling 11,509 BTC. The value of its Bitcoin holdings has more than doubled since the start of the year, reaching $495 million in profit. The increase in value is due to the soaring prices of Bitcoin rather than new acquisitions. Tesla's strategic bet on Bitcoin has been lucrative, and the company's stock has also seen a boost as a result. While Tesla focuses on securing its current Bitcoin holdings, other companies like MicroStrategy continue to aggressively expand their Bitcoin reserves.
- Content Editor ( decrypt.co )
- 2024-11-12
Tesla Stock Surges 8% Post-Market as Bitcoin Holdings Exceed $1 Billion