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Tesla's initial foray into Bitcoin proved profitable. Within the same year, the company sold approximately 10% of its holdings, generating a remarkable profit of $101 million. The following year, in 2022, Tesla sold 75% of its remaining Bitcoin, tallying around $93 million. Today, estimates suggest that Tesla still holds around 11,630 Bitcoins, amounting to over a billion dollars in unrealized gains.
Investor Sentiment on Musk's Bitcoin Strategy
Despite Musk's overall trustworthiness among Tesla shareholders, many investors are wary of his judgment regarding Bitcoin. This contradiction raises a critical question: How can investors trust Musk’s strategic decisions for Tesla’s business, yet doubt his insights when it comes to cryptocurrency?