Bitcoin Surges: Tesla Rakes In Colossal Profit

Very close to a president favorable to cryptocurrencies and firmly opposed to bitcoin sales, Elon Musk is revising his approach to this flagship crypto. As the spike in BTC drives Tesla’s assets above one billion dollars, the manufacturer is now sitting on a considerable digital treasure. However, the question remains open: what will Musk do with this volatile windfall?

Tesla and Bitcoin: a successful digital adventure

Tesla, a pioneer among large companies to have massively invested in bitcoin, sees today its choice rewarded. With 11,509 BTC in reserve on Coinbase Prime, Elon Musk’s firm reaches the threshold of one billion dollars thanks to the recent surge in cryptos.

Since its initial investment of $1.5 billion in 2021, Tesla has oscillated between sales and retention. A strategy that now seems fruitful: the recent rise in BTC price to $89,000 has allowed the valuation of these assets to almost $96.7 million more in just a few days.

Some figures to remember:

• $1 billion: current value of Tesla’s bitcoins;
• 11,509 BTC: volume held by the company;
• 9.5%: increase recorded in 24 hours.

This windfall now offers Tesla a return to profitable territory, but the recent movements of its funds to unknown wallets raise questions. Preparation for a sale or simple precaution? Opinions are divided.

Elon Musk: between crypto loyalty and strategic questioning

The mystery lingers around Elon Musk’s next maneuver. With his track record of partial sales in 2022, Musk surprised by setting aside 75% of Tesla’s bitcoins while still keeping a portion “for the future.” As the alliance with Trump seems to strengthen his image as a proactive crypto player, Musk reveals nothing about a potential resale of his dormant BTC assets that have just been reactivated last month.

TESLA JUST MOVED ANOTHER $260M BTC

TOTAL MOVED: $760M pic.twitter.com/ukAcHW1EZC

— Arkham (@ArkhamIntel) October 15, 2024

The rise of Bitcoin is enticing, but caution remains paramount, one might say at Tesla. Elon Musk seems to hesitate between capitalizing on this boom or waiting for new opportunities. As 2025 approaches, with a pro-crypto Trump in the White House, there is a good chance that this value will continue to rise and give him new reasons to wait.

It is known that the Trump-Musk duo proves to be a fruitful alliance for the billionaire’s empire, whose fortune rises with Tesla stocks (+15%), bringing him an additional $20 billion thanks to the Republican wind.