Tesla Cuan Rp. 1.5 T from Bitcoin, but you are not Elon Musk

Jakarta, CNBC Indonesia – Many feel the joy of investing in Bitcoin, one of which is Tesla. Elon Musk’s electric car maker, who often pompoms cryptocurrencies via Twitter, promises to make Bitcoin a long-term investment.

Tesla, a company listed on the New York Stock Exchange, reported a strong performance in the first quarter of 2021 with a net profit of US $ 438 million (Rp 6.4 trillion). But who would have thought, a quarter of that was obtained from Bitcoin buying and selling activities.

This was a surprise, as Tesla’s net profit usually comes from car sales and “carbon credits.” Another surprise is that Elon Musk has been known as a cryptocurrency activist through his tweets on Twitter which have proven to be effective in boosting crypto prices in the market.

Tesla reported sales of 184,000 electric cars worldwide in the first quarter of 2021, or exceeding the market estimate in the Revinitif poll of 177,822 units. This figure is also better than the achievement in the fourth quarter of 2021 of 180,570 units.

The trigger was none other than the sale of the Y model in China, which is also Tesla’s production base for this type of car, in the city of Shanghai. “We are very pleased with the strong turnover of Model Y in China and are moving forward rapidly to increase production capacity,” said the management in its official statement on April 3 yesterday.

From car sales alone, Tesla scored US $ 9 billion in sales, of which US $ 518 million (up 46% on an annual basis) came from sales of carbon credits. But what’s different this time, there are reports about the sale of “digital assets” which are none other than Bitcoin worth US $ 272 million.

Please note, in February Tesla announced a purchase of US $ 1.5 billion worth of Bitcoin and said that investments in the cryptocurrency would continue. After the purchase, the price of Bitcoin really shot up until it touched its new high.

Source: GoldPrice.com

Not wanting to lose the opportunity, the Elon Musk company is in a hurry to realize the benefits it has. In its disclosure report to shareholders, the company sold “digital investment assets” of US $ 272 million.

This move sparked questions from many circles. One of them is Dave Portnoy, founder of Barstool Sports, a digital media company and around sports and pop culture content. Portnoy also publicly admits to owning 1 Bitcoin chip.

“Is this my understanding correct? Elon Musk bought Bitcoin. Then he pumped up the price. It inflated the goods. Then, he threw the goods away and printed the cuan,” he said in his teasing at Twitter, yesterday.

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