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Benzinga
Benzinga
Business
Chris Katje

Here's What Bitcoin's Crash Could Mean For Tesla

Bitcoin Dave Lee Nasdaq Tesla Inc.

Electric vehicle giant Tesla Inc (NASDAQ:TSLA) purchased Bitcoin (CRYPTO: BTC) for the first time in February 2021. Here’s a look at how the $1.5 billion investment has fared for Tesla with Bitcoin crashing.

What Happened: Tesla announced a $1.5 billion purchase of Bitcoin in February 2021. The company announced later that it sold $272 million of the cryptocurrency in the first quarter of 2021, which had a “positive impact" of $101 million on the company’s profitability.

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