Weedbush Dan Ives “At least $1 billion in profit on Bitcoin surge”
Tesla reveals its $1.5 billion purchase on the 8th
‘Entertainment rhythm’ Musk “Bitcoin price is high”
viewer
It was found that the valuation revenue earned from the purchase of bitcoin by Tesla, the world’s largest electric vehicle manufacturer, exceeded the sales revenue recorded last year.
According to the US economic media Market Watch on the 20th (local time), Dan Ives, an analyst at the securities firm, Weatherbush, analyzed that Tesla has already generated at least $1 billion (about 1.07 trillion won) in valuation due to the surge in bitcoin. “Our calculations estimate that Tesla has made about $1 billion in revenue over the past month,” Ives said. “From this point of view, Tesla is making more profits than the sales of electric vehicles made last year from Bitcoin investment. It’s going towards,” he explained.
Last year, Tesla sold 500,000 electric vehicles in China and around the world, making a profit of $721 million. In 2019 alone, it lost $862 million, but last year it turned to a surplus.
Although the price volatility of bitcoin is large, Tesla’s bitcoin investment returns will outperform electric car sales last year. On the 8th, Tesla announced that it had bought $1.5 billion worth of bitcoin through a report published to the Securities and Exchange Commission (SEC). It also revealed a plan to allow Bitcoin as a payment method in the future. The purchase was announced through the SEC report on the 8th, and the purchase was earlier than this.
After the news of Tesla’s purchase of bitcoin was announced, the price of bitcoin continued to skyrocket. On the 19th, the price of bitcoin surpassed 54,000 dollars, and the market capitalization exceeded 1 trillion dollars. According to the cryptocurrency site CoinDesk, the price of bitcoin as of the day reached an all-time high of $57,492. Bitcoin prices have soared more than 90% this year, according to the fact set. In contrast, gold, which is considered as a competitive asset of Bitcoin, has fallen by about 6% this year.
viewer
Even though Tesla’s CEO, Elon Musk, has also benefited from the purchase of bitcoin, it has been making a comeback with the recent surge in bitcoin. Musk said when Peter Seef, a leading bitcoin skeptics and gold investment advocate, said, “Gold is better than bitcoin and conventional cash,” Musk said, “Money is just the data that avoids the inconvenience of barter. And Ethereum prices seem to be high,” he said on the day. Ethereum is a cryptocurrency with the second largest market capitalization after Bitcoin.
Reuters noted that “Musk said this when the market capitalization of bitcoin exceeded $1 trillion,” said insider, an economic media outlet. “Musk admitted that the price of Bitcoin and Ethereum seems to be high.”
However, Musk said on the 19th, “holding bitcoin is less stupid than cash. When the real interest rate of legal currency is negative, only idiots (bitcoin, etc.) don’t look elsewhere.” Tesla’s bitcoin investment decision Advocated. “I should have bought bitcoin eight years ago,” he said through the clubhouse on the 1st. “At this point, bitcoin is a good thing, and I am a bitcoin supporter.”
Tesla’s share price has risen more than 11% this year. Regarding Tesla’s bitcoin purchase, Dan Ives predicted, “It may be a’feat’ that matches Musk’s popularity, but in the future, other companies will have to follow Tesla to exchange some cash for bitcoin.” “We expect less than 5% of listed companies to go in this direction as more regulations are enforced around the cryptocurrency market. From this year, more and more mainstreams are adopting cryptocurrency, which will have a huge impact on blockchain, payments, banks and semiconductors in the future.”
/ Reporter Kihyuk Kim [email protected]
< 저작권자 ⓒ 서울경제, 무단 전재 및 재배포 금지 >