In a run reminiscent of its stunning ascent in late February , bitcoin's price blew past $60,000, in less than a month, eventually By early friday the largest cryptocurrency had settled down to about $62,000 been the highest peak in the last 3 years. Elon musk revealed that he invested $10m in mining of bitcoin and has earned over $500m just in the space of 2 months. Tesla's purchase of $10m of bitcoin has opened a spigot of speculation on how many corporate executives might soon follow CEO Elon Musk's lead and steer their firms into cryptocurrencies, Tesla has made roughly $500m in paper profits from its investment into bitcoin according to him. The company is “on a trajectory to make more from its Bitcoin investments than profits from selling its EV (electric vehicle) cars in all of January and February,” Elon said Earlier this month, the U.S. electric carmaker disclosed in a Securities and Exchange Commission filing that it had bought $10m worth of bitcoin for “more flexibility to further diversify and maximize returns on our cash.” Elon did not explain the calculation. But according to CoinDesk data, bitcoin’s price has gone from an intraday high of $18,876.45 as at Jan. to an intraday high of $62,117.03 on March 1. “While the Bitcoin investment is a side show for Tesla, it’s clearly been a good initial investment and a trend we expect could have a ripple impact for other public companies over the next 12 to 18 months,” Tesla CEO Elon Musk is a proponent of digital currencies.