Elon Musk’s Tesla is already $1 billion in profit from holding Bitcoin

Tesla’s bold foray into the Bitcoin (BTC) market has been paying off in 2021 as BTC’s price has been rallying in October to hit over $58,000 on Oct. 14.

Tesla currently holds roughly 43,200 BTC, worth roughly $2.5 billion at today’s prices, according to online monitoring resource Bitcoin Treasuries. This is approximately 65% or $1 billion more than what the carmaker paid in February when Elon Musk’s company revealed that it had added $1.5 billion in BTC to its balance sheet.

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