If You Invested $1,000 In Bitcoin When Tesla Bought The Crypto, Here's How Much You'd Have Today
Portfolio Pulse from Chris Katje
In 2021, Tesla Inc. purchased $1.5 billion in Bitcoin, which led to an immediate price increase. Tesla later sold a significant portion of its Bitcoin holdings, but still retains $184 million in 'digital assets.' If an investor had put $1,000 into Bitcoin at the time of Tesla's purchase, it would be worth $943.74 today, a 5.6% decline. In comparison, the same investment in the SPDR S&P 500 ETF Trust would have grown by 21.5%, while an investment in Tesla stock would have decreased by 11.6%. Bitcoin's all-time high was in November 2021, when the $1,000 investment would have been worth $1,485.86.
December 20, 2023 | 6:43 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) has outperformed Bitcoin and Tesla since Tesla's Bitcoin purchase, with a 21.5% increase on a $1,000 investment.
The SPDR S&P 500 ETF Trust is a benchmark for overall market performance and has shown to be a more stable and profitable investment compared to Bitcoin and Tesla over the same period, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
NEUTRAL IMPACT
MicroStrategy has also invested in Bitcoin, and its stock price may be influenced by movements in the cryptocurrency market.
MicroStrategy's stock may be impacted by Bitcoin's price movements due to its investment in the cryptocurrency, but the article does not provide specific performance data for MSTR.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Block Inc. (formerly Square) has also invested in Bitcoin, potentially affecting its stock price with the cryptocurrency's fluctuations.
Block Inc.'s stock may be impacted by Bitcoin's price movements due to its investment in the cryptocurrency, but the article does not provide specific performance data for SQ.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Tesla's Bitcoin purchase and subsequent sales have influenced its balance sheet and profitability. The stock has underperformed compared to Bitcoin and the S&P 500 ETF since the purchase.
Tesla's involvement with Bitcoin has been significant, with direct impacts on its financial statements and investor sentiment. The underperformance of Tesla's stock compared to Bitcoin and the S&P 500 ETF since the purchase suggests a negative short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80