It was found that Tesla, which launched the cryptocurrency market with large-scale investments in bitcoin and allowed payment for electric vehicles, sold 300 billion won worth of bitcoin in the first quarter.



Tesla released its first quarter financial statements on the 26th (local time), reported by CNBC Broadcasting, a media specializing in the US economy.



According to Tesla's Q1 Cash Flow Statement, the sale of'digital assets' (Bitcoin) was $272 million (approximately KRW 322.2 billion).



Tesla said that the sale of bitcoin had a "positive impact of $111 million ($11.2 billion) on its profits," and said it has cut operating expenses with the sale of bitcoin.



Tesla played a decisive role in launching the cryptocurrency market by announcing its investment of $1.5 billion worth of Bitcoin in February, and even introduced a system that allows the purchase of electric vehicles with Bitcoin.



In response, CNBC broadcast said, "As the price of bitcoin rose in the first quarter, Tesla seems to be selling some of the bitcoin quickly for a gain of $111 million," and "Tesla's bitcoin speculation helped increase profits." .



When it was revealed that Tesla had sold bitcoin, financial information company The Street reported that there were a lot of articles on social media, including Twitter, criticizing Elon Musk, Tesla's chief executive officer (CEO), who fueled cryptocurrency investment.



An investor, known in the cryptocurrency online community for the'Bitcoin Archive', compared Musk to Brutus, who betrayed Roman politician Julius Caesar, pointing out that "Tesla made more money from bitcoin trading than car sales." I did.



"Bitcoin is not a cash currency with liquidity or other advantages," Vicky Bryan, founder of Bond Angle, a bond investor, advised CNBC that "the transaction is not secure."