Technology

Bitcoin owned by Tesla is now worth US $ 2.48 billion

Electric vehicle maker Tesla, which invested $ 1.5 billion in bitcoin earlier this year, says in a stock document Wednesday that its cryptocurrency portfolio was worth $ 2.48 billion at the end of the first quarter .

“The market value of our bitcoin holdings as of March 31 was $ 2.48 billion,” the group explains in a document sent to the US Stock Exchange Constable, the SEC, and published Wednesday, two days after its results for first three months of the year.

Tesla claims to have sold part of its virtual currencies before the end of March, for a value of $ 272 million, which allowed it to earn $ 101 million.

“Elon (Musk, the boss of Tesla) and I were looking for a place to store cash that would not be spent immediately, which would give us a little return, but which would remain liquid at the same time,” said Zachary Kikhorn, who officially holds the title of “master of coin” at Tesla.

“Bitcoin seemed like at the time and seems like a good move for now,” he added.

The group states in the stock market document that it wishes to “maintain (its) positions over the long term regardless of the mode of acquisition” of virtual currency.

The price of the cryptocurrency, which was hovering around $ 34,000 just before Tesla’s investment announcement on February 8, climbed to a record high of nearly $ 65,000 in mid-April, and was trading around 55. 000 dollars Wednesday.

When announcing its investment, Tesla also officially accepted virtual currency as a means of payment for the purchase of its cars.

The boss of the car manufacturer Elon Musk was also noted for the umpteenth time on Twitter on Wednesday about cryptocurrencies, nicknamed “The Dogefather”, in reference to dogecoin, a cryptocurrency created as a joke in 2013, but whose price has since flown away. His price jumped again on Wednesday.

“Dogefather” refers to the term “godfather”, meaning in French the “godfather”.

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