Tesla’s bulging Bitcoin purchase could be the spark that tracks the stock market

After Announced Tesla it has invested $ 1.5 billion in bitcoin BTC and expecting to start accepting the cryptocurrency as a payment for its electric vehicles in the near future, the bitcoin price became soaring. It went from about US $ 39,400 to a full-time high of over US $ 48,000 in less than 24 hours.

That the price is now increased by over 50% in the first six weeks of 2021. Led by Elon Musk, Tesla’s investment is obviously already in profit: depending on the exact date of purchase, it’s probably worth more than $ 2 billion, indicating a paper profit of over $ 500 million. dollars. To put it in context, when the electric carmaker made its first ever annual net profit by 2020, it was just over $ 700 million.