How Much did Elon Musk Earn From Bitcoin?
Elon Musk, one of the richest people in the world, has recently attracted attention with his crypto money investments. It was known that the businessman, who also owns the US electric vehicle manufacturer Tesla, has invested in Bitcoin in the last 1 year. With the price of Bitcoin rising over $60 thousand in the past few days, Tesla's profit became clear.
Bitcoin stands out as the most valuable asset for cryptocurrencies. With the price action it has shown recently, it managed to break above the $60,000 level. BTC rallied sharply as the US Securities and Exchange Commission priced in expectations that it will approve some of its ETFs.
Tesla's Profit Exceeds $1 Billion
Tesla's CEO, Elon Musk, draws attention with the profit he has made over Bitcoin in the last 1 year. As it is known, Elon Musk manages his BTC investments through Tesla. In this sense, it is known that the amount of Bitcoin in Tesla's hands is 42 thousand 902. The company bought BTC at the level of $1.5 billion in February of 2021.
Thanks to the price increases in BTC, Tesla's Bitcoin asset is known to exceed $2.5 billion. After this development, the company made a profit of more than $1 billion on its BTC investment. All of this has led to increased rumors that Elon Musk is dominating the entire market.
It should also be noted that the investments made by Elon Musk are not limited to BTC. He also plays a very active role in cryptocurrencies such as Shiba Inu, Dogecoin, Floki Inu, with his shares on Twitter.
The rich businessman, who expressed his views on the subject, cited that the amount of energy was high in the BTC production phase in May, and said that Tesla would not accept payment with crypto money in electronic car sales. This statement caused Bitcoin to go upside down.
Elon Musk's Impact on the Market
Despite all this, Elon Musk continues to share about cryptocurrencies on social media. In his last post, there was a sharp increase in the prices of Shiba Inu, known as the Dogecoin killer. Recently, Elon Kuska also published his Inu dog named Floki on Twitter. This caused the Shiba Inu to increase in value by 4 times.
Every word of Elon Muk, one of the most sensational names in the world, both in the real world and in the virtual world, has an impact on the crypto money market. Musk, who has recently come to the fore with the shares that have seriously affected the course of the crypto money exchange, caused the value of Bitcoin to decrease.
In a statement, Elon Musk stated that Tesla products can be purchased with Dogecoin. After the announcement, Dogecoin increased by 37%. Elon Musk has stated that he has invested in Ethereum, Bitcoin, and Dogecoin in his statement in the past months. This caused a significant movement in the market.
How much is Elon Musk's wealth?
Elon Musk is known as the richest man in the world. Musk, whose fortune is around $209 billion, is making important moves for Dogecoin, of which he is an investor. Musk thinks this money will be enough to extend human life to Mars. Some people in the DOGE community imagine that in the future the currency of the red planet will be the Doge.
In addition to all this, it is known that Elon Musk is in great competition with the CEO of Amazon for wealth. On his latest deal, Musk managed to outdo Jeff Bezos by adding a fortune to his fortune. In this way, he secured his first place.
Elon Musk and Jeff Bezos are known as the two most popular billionaires in the world today. However, factors such as the fact that Elon Musk's investments in the crypto money market are more effective and he is more active in social media management to make him more popular. In addition, he easily managed to become the richest man of today in terms of entrepreneurial moves.