Did Tesla make a profit from selling Bitcoin?

In February this year, Tesla bought $1.5 billion worth of Bitcoin. The automaker has now sold some of it — and made a pretty good profit. Tesla announced in its Q1 earnings report that it sold a good chunk of Bitcoin for a profit of $101 million.

What is the biggest cryptocurrency in the world?

In February, Tesla surprised many by jumping on the cryptocurrency bandwagon with a $1.5 billion purchase of Bitcoin— the biggest cryptocurrency in the world. Last month, the automaker also started accepting Bitcoin as payment for its electric cars.

What if the government sold its bitcoin stake?

Had the government sold its bitcoin stake when the price of the token peaked above $67,000 last month, coffers would have been a whole lot bigger than if they liquidated at today’s price. Once a case is closed and the crypto has been exchanged for fiat currency, the feds then divvy the spoils.

What is happening with Bitcoin and other cryptocurrencies in the US?

There are currently three main junctures in the flow of bitcoin and other cryptocurrencies through the criminal justice system in the U.S. The first phase is search and seizure. The second is the liquidation of raided crypto. And the third is deployment of the proceeds from those crypto sales.