Recently, electric vehicle manufacturer Tesla released its financial report for the first quarter of 2021, showing that in this quarter, revenue remained stable quarter-on-quarter, thanks to the increase in production and sales, a year-on-year increase of 74%.
The financial report shows that Tesla’s net profit in the first quarter of 2021 was US$438 million, a year-on-year increase of 2638% and a month-on-month increase of 62%. At the same time, income from regulatory credit was $518 million, which is the highest level in five years.
Tesla said it plans to increase vehicle deliveries by 50% this year, from 500,000 vehicles last year to 750,000 vehicles, which is consistent with its forecast at the end of last year.
According to Tesla’s official statement, a net expenditure of $1.2 billion was spent on Bitcoin and related expenditures during the quarter. According to Wccftech’s analysis, Tesla not only bought bitcoins, but also sold some bitcoins during the quarter, and made a profit from it, which is about 101 million US dollars.
Tesla’s ‘digital assets,’ the term that is most likely uses to account for its cryptocurrency holdings, shows that it was $1.3 billion at the end of the quarter. It seems that the recent upsurge in the Bitcoin market has gained a lot for Tesla.
In the past, Tesla’s announcement to the US Securities and Exchange Commission (SEC) showed that the company has purchased $1.5 billion worth of bitcoin. Earlier this year, Tesla started accepting Bitcoin for payment.
