Granted, you may not see the 59% upswing enjoyed by Tesla. Now, protocols including Aave, Compound, and Balancer have proven themselves to be reliable ways to generate a consistent return. While many were experimental, a core selection has stood the test of time. They offered traditional financial services - think loans and interest-bearing accounts - but exclusively on the blockchain. Over a few months, a collection of decentralized finance protocols emerged. Last June, the cryptocurrency market put a long winter firmly behind it as it entered a phase now known as “DeFi Summer.” The responsible way to invest in cryptocurrency However, as recent weeks have shown us if your timing is off by even a day, your investment could be down 15% overnight.ĭespite this risk, there are still always to make a reliable return on cryptocurrency.
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It’s little surprise that boardrooms worldwide are also plotting their entry into crypto. So here is a company that’s making more from crypto than its core business. Tesla sold $272 million worth of its holdings (valued at just $171 million at the time of purchase), netting a $101 million gain. While Tesla still holds most of the purchase on its balance sheet, a glance at the cash flow statement shows that the company clinched a 59% gain on one recent disposal.
He dropped $1.5 billion into the cryptocurrency in February 2021. Instead - I’m intrigued as to how Elon Musk’s bitcoin gamble is paying off.
Not because I’m considering an investment in the electric car pioneer. I recently dipped into Tesla’s financials. 4 weeks Decentralized Finance Is Risky, But Not As Risky As You Think BeInCrypto
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