Tesla didn’t exactly earn its record profit from selling cars, however. The company said that it sold some of the $1.5 billion worth of bitcoin that it purchased in February, contributing $101 million to the bottom line. That is nearly a fourth of its total profit.
What is more, sales of regulatory credits to other auto makers to help them meet emissions mandates, which carry a 100% profit margin, reached $518 million. That accounts for nearly 100% of Tesla’s $533 million in pretax income. Those two helping hands helped avert red ink.
I'm not goin got sully Hubski with a Tesla hate-rant, but I'm glad someone is writing about the ZEV credits. It's not a widely reported thing, though it is very well known within the industry. The ability to sell those credits should wane as more EVs come online. The Bitcoin trading thing is pretty funny though, given Elon's bullshit-laden climate change focus.
Please reconsider. The institutionals have been pivoting heavily to ETH. You can make a fundamental use case, and you can use phrases like "authentication" and "DeFi" which nobody understands but knows they should be impressed by, and then you can point to NBA Top Shot and nobody even knows enough to argue that it runs on Flow not Ethereum. For about three weeks now total market flows for ETH have been half again Bitcoin's. And it's a steady thing. When dumb things like Dogecoin bumps aren't happening ETH is the top traded cryptocurrency across the top three or four exchanges, and the top traded cryptocurrency, period. Ethereum is also pointing towards exactly the characteristics Musk called out:I'm not goin got sully Hubski with a Tesla hate-rant
The Bitcoin trading thing is pretty funny though, given Elon's bullshit-laden climate change focus.
The year Aston Martin went public they were turning $70 in profit per car, or between a quarter and a fifth what Apple profits per iPad. This is one of the reasons equities have become so nihilistic: there's no fucking point at looking at the fundamentals because hedge funds and august Wall Street firms have been YOLOing their stimmies since Glass-Steagall was repealed in 1999.