The market value of the world’s first digital currency exceeded $1 trillion. However, the investors are planning to put limits on the size of bets of this kind.For more stories on economy & finance visit RT’s business section The gains may not be regarded as profit since the company still owns its 48 tokens.The estimated $1.08 billion gain is nearly 30 percent more than its $721 million revenue from electric vehicles in 2020, according to the corporation’s annual report.Earlier this week, bitcoin’s price beat its previous record, hitting $57,000. The news immediately sent bitcoin’s price surging to a new high. James Anderson, a partner of Baillie Gifford, told the Times he was “content” with the $1.5 billion purchase of bitcoin. Follow RT on
Investing in bitcoin has already yielded US electric car producer Tesla its first gains of around $1 billion. Also on rt.com
Meteoric growth: Bitcoin keeps beating its own best, shooting past $57,000
Edinburgh-based investment house Baillie Gifford, one of the biggest shareholders in Tesla, called for discussion of the issue. Earlier this month, Tesla revealed that it had bought $1.5 billion in bitcoin in a filing with the US Securities and Exchange Commission, vowing to accept the cryptocurrency as a form of payment for its products in the near future. The figure leaves the company’s profits from selling its electric vehicles (EV) far behind. Also on rt.com
Investing in bitcoin ‘less dumb’ than holding cash, but only slightly better – Elon Musk
According to data tracked by Bitcointreasuries, Tesla’s paper profits from its investment into bitcoin has amounted $1.08 billion.