$1,000 in Bitcoin when Tesla bought: see today’s value

Bitcoin BTC/USD reached record highs in March 2024 and may rise further before the 2024 presidential election.

This article reviews Tesla Inc’s TeslaTSLA Bitcoin purchase and its impact on investors.

What Happened: Tesla bought $1.5 billion in Bitcoin in January 2021, which it revealed to investors in February 2021. This move positively influenced Bitcoin’s price.

In Q1 2021, Tesla sold $272 million of its Bitcoin, benefiting its quarterly profit. By Q2 2022, Tesla had sold 75% of its Bitcoin for $936 million.

Tesla’s balance sheet currently shows $184 million in “digital assets,” which likely includes both Bitcoin and DogecoinDOGE/USD.

Tesla can adjust its digital asset holdings as needed, depending on market conditions.

Recently, Tesla moved its Bitcoin to new wallets, which might indicate a potential sale.

Let’s explore Bitcoin’s performance post-Tesla’s purchase:

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Investing $1,000 in Bitcoin: Bitcoin dropped in 2022 due to various economic issues and the FTX bankruptcy.

In 2024, Bitcoin hit new highs after the approval of Bitcoin ETFs, attracting high demand.

Bitcoin soared to $46,203.93 on Feb. 8, 2021, post-Tesla’s purchase announcement, increasing from $39,621.84 the day before.

With a $1,000 investment at that peak, one could have bought 0.0216 BTC, now valued at $1,468.65 (up 46.9%).

Investing that same $1,000 in Tesla stock would be worth $758.39 today (down 24.2%).

Despite Bitcoin outpacing Tesla stock, it trailed the SPDR S&P 500 ETF TrustSPY, which increased to $1,491.58 (up 49.2%).

While Bitcoin has generally performed well, Tesla’s purchase day does not mark an exceptional gain over prime stocks and market indexes.

Michael Saylor, co-founder of MicroStrategy, urged Elon Musk to invest in Bitcoin back in December 2020. If Musk had acted sooner, Tesla would have seen better returns.

Bitcoin hit a record high of $73,750.07 on March 14, 2024.

Read Next:

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This article was previously published by Benzinga and has been updated.