One can hope this doesn't cause full-blown mania, followed by a crash. On it's own, this is a bullish development for BTC, but everything Elon touches, tends to generate a lot of hype... could be too much.
If they didn't cash out, there are not profit. Bitcoin could take a 80% dump within an hour and most people would be screwed.
So they're in 100% profit if they sold. Usually when you want to sell, everyone else wants to sell too (see Mar 2020) so it all comes crashing