Categories: News

Tesla’s profit rises by 2637 percent! By selling bitcoin …

In fact, if we only look at car sales, Tesla has made a loss. Because of the $ 438 million net profit, $ 518 million comes from issue credits and $ 101 million comes from the sale of bitcoin. Sales in the past quarter amounted to just over $ 10 billion. In the first three months of 2020, it was still 6 billion dollars.

Tesla sells emission credits to other manufacturers

Also in the last quarter of 2020 (and before), Tesla relied heavily on the sale of emission credits. It works like this: a car manufacturer like Fiat has too few clean cars in its delivery program to meet the strict European emission requirements. Fiat then pays Tesla a considerable amount (hundreds of millions) to be able to add electric, zero-emission Teslas to its own cars.

Tesla bought $ 1.5 billion worth of bitcoin

Furthermore, Tesla made 101 million dollars in profit in the past three months from the sale of bitcoin. The company bought 1.5 billion dollars worth of bitcoin at the beginning of this year and recently sold 10 percent of it. According to Elon Musk, this is to show that bitcoin is a fully-fledged alternative to traditional payment methods. We take that with a grain of salt …

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