Here’s How Much Elon Musk’s Tesla And SpaceX Have Made From Their Bitcoin Holdings
March 08 2024 - 10:00AM
NEWSBTC
A new report has revealed the total Bitcoin assets held by Elon
Musk’s Tesla and SpaceX companies and how much profit they’re
seeing so far. Tesla And SpaceX Bitcoin Holdings
Unveiled On Thursday, March 7, Arkham Intelligence, an AI-based
blockchain analytics platform, revealed the Bitcoin holdings of
SpaceX and Tesla, two companies co-founded by X (formerly Twitter)
owner, Elon Musk. The comprehensive report also outlined Tesla’s
BTC transactions spanning from 2021 to 2024. Related Reading: Shiba
Inu Lead Dev Co-Signs Prediction That Would Send SHIB To $100
Billion According to Arkham, Tesla had purchased about $1.5 billion
worth of BTC in January 2021. Subsequently, the automotive company
initiated multiple transfers, opting to sell off its Bitcoin
holdings valued at $272 million in the first quarter of 2021 and
about $936 million in the second quarter of 2022.
Arkham has claimed that the automotive company currently possesses
a staggering 11,510 BTC, valued at $780 million. Furthermore,
Tesla’s substantial Bitcoin holdings are reportedly spread across
68 wallet addresses. On the other hand, SpaceX, a private
space exploration and technology company, currently holds about
$8,290 BTC worth approximately $560 million. These assets are
reportedly distributed across a total of 28 wallet addresses.
The combined BTC holdings of these two companies place them in a
league comparable to the BTC holdings of major financial
institutions. Tesla has secured the third position among the
largest Bitcoin holders, with MicroStrategy leading the list,
possessing around 190,000 BTC worth over $8 billion. Despite
the considerable amount of BTC held by Musk’s companies, the CEO
has seemingly had a love-hate relationship with Bitcoin. Earlier in
2023, Bitcoin crashed below $25,000 after Musk’s SpaceX sold all
its Bitcoin holdings. However, it seems the space company is
showing more interest in BTC, as seen by its massive Bitcoin
portfolio. Tesla May Be Buying More BTC A crypto community
member, identified as “Definalist” on X, has shared insights,
suggesting that Tesla might be increasing its involvement in
Bitcoin. Referring to Arkham Intelligence’s report of Tesla’s BTC
holdings, Definalist disclosed Tesla’s acquisition of an additional
1,790 BTC. Related Reading: Total ETH Burned Crosses 1.5
Million Ahead Of Ethereum Dencun Upgrade Definalist has revealed
that in 2023, Tesla’s BTC balance sheet had held about 9,720 BTC.
Fast forward to 2024, the automotive company’s portfolio has
expanded to 11,510 BTC, revealing an unreported acquisition of an
extra 1,790 BTC. This significant Bitcoin purchase could be
attributed to the growing enthusiasm for the cryptocurrency, driven
by its recent bullish momentum and massive price increases. At the
time of writing, Bitcoin is trading at a price of $67,279,
according to CoinMarketCap. The cryptocurrency previously surged to
an all-time high of $69,200 on March, 5, after which it retraced to
its current price level. BTC price recovers above $67,000 | Source:
BTCUSD on Tradingview.com Featured image from MEXC Blog, chart from
Tradingview.com
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