As the most influential KOL in the currency circle, Musk has the ability to pull digital currencies such as Bitcoin in his words and deeds. However, even so, he is not omnipotent, and he is still cut leeks by the market. Companies such as Tesla that invested in Bitcoin began to lose money.
In terms of investing in Bitcoin, Musk and Tesla have done their best. Earlier this year, they bought about 40,000 Bitcoins with 1.5 billion dollars. The biggest contributor to turning a loss is even easier than making a car and buying a car to make money.
However, the good times didn’t last long, and these bitcoins began to lose money in the Q2 quarter. According to Tesla’s financial report, the Q2 quarter’s bitcoin assets were depreciated by $23 million.
Tesla’s Bitcoin investment losses are related to the sharp drop in Bitcoin in the Q2 quarter. It peaked to $65,000 in May, and then plummeted by half in June, falling below $30,000 at a minimum, and is now fluctuating around $40,000. .
It is not only Tesla Musk who is optimistic about Bitcoin and invests heavily in Bitcoin. Twitter founder and CEO Jack Dorsey is also a firm sing-along. $10,000 in Bitcoin losses.
Of course, when comparing the two companies, Square is even worse, because there is no reduction in the position after buying, and Tesla has already cashed out $270 million in Q1, and it still made a profit in the first half of the year, but it was cut in Q2. Small chives.