The auto giant Tesla has been making news in the media for the past few weeks ever since its owner announced the investment of one billion USD in bitcoin. Soon they announced that they would accept their payment in digital coin, particularly in Bitcoin. This has remained a key thing in a big way. Tesla, on the other side, had now reported some good figures in the first quarter this Monday when they had included a record in the first quarter giving away the net profit of 438 USD million on the terms of GAAP basis. Hence, as usual, all these profit benefits were seen buoyed by the kind of sales environment one can have with the regulatory credits. However, in the recent wrinkle found in this quarter, one can find the sales of the company of bitcoin to be going to around 101 USD in terms of millions taking things in the lower area.

This February, we had witnessed the auto giant coming with the waves when it announced a whopping 1.5 Billion USD purchase of Bitcoin and thus, it was said that it will now go to continue investing in the domain of digital currency when we see things in a broad spectrum. This Monday, we have seen the shareholders of Tesla coming up with an update wherein they said that the sales of bitcoin that was made at a whopping cost of 101 M USD had a positive impact when we talk about the profitability of the company during the phase that tends to end by 31st of March 2021. As the company is flowing with the cash, the statement one can find in the first quarter is seen recording the purchase of 1.5 billion of the digital assets along with the whopping investment of 272 M USD that is seen proceeding for the sales of digital money and assets in the first quarter.

Elsewhere we have seen the company claiming that the profitability was seen getting help from the bitcoin that has gone with the contribution of 101 M USD, and one can call it to be a positive impact while we see the impairment. This would help in showing up the 101 M USD reduction when we talk about the operating cost of the statement of operations as claimed by the company. This ends up suggesting that the company is now coming up quickly with the flip-up cost with the help of a bitcoin purchase that ends up with the gain of 101 USD million once we see the price of Bitcoin rising up during the first quarter.  As per the CFO of the company, Mr C Kirkorn, the earning seems to be going steady, while Elon is seen coming along with the place to store the cash, which does not seem to come instant as being used in order to gain the high returns.

He ended up saying that access to the hard cash seems to come soon, but it will not impact the decision they made earlier to go with Bitcoin. He further claimed that Bitcoin has proved out to be a good choice for them as it is a good segment when it comes to putting some amount of cash, which is not being very much used for the day to day operations, and these would be done in order to gain the result for the same. The CFO further seemed to have added that while these things were pleased, the liquidity of the Bitcoin market is going to remain for a longer run.

For the time being, we have seen that the company is not accepting payments in the form of Bitcoin from their customers. This, somewhere, has added confusion as to how the company is going to move ahead in its investment when it comes to using bitcoin for serving the mission of electric vehicles in Elon Musk. We have now seen the company raking up huge money of 1.6 B USD coming along with regulatory energy credits that are seen coming up with the basic zero-emission. Tesla has to continue making good profits in the coming four quarters in order to gain profit. You can further explore the issue on sites like https://bitsignal.live/ and get an insight.