Tesla and SpaceX’s BTC Holdings Exposed: Over $1.3 Billion in Bitcoin
Arkham Intelligence, a blockchain analytics platform, has unveiled the Bitcoin holdings of Tesla and SpaceX. According to their findings, Tesla currently possesses 11.51K BTC valued at $780 million, spread across 68 addresses, while SpaceX holds 8.29K BTC totaling $560 million, distributed across 28 wallets. These figures align with the companies’ financial disclosures.
Background: Tesla’s Crypto Journey
In January 2021, Tesla made its grand entrance into the cryptocurrency market with a purchase of $1.5 billion worth of Bitcoin. However, they later made two significant sales: $272 million in Q1 2021 and $936 million in Q2 2022.
During a period between March 24 and May 12, 2021, Tesla briefly allowed Bitcoin transactions for purchasing vehicles. This was confirmed by the Tesla Intel Exchange Bounty program, which revealed a connection between car acquisitions and the extensive cluster of Bitcoin holdings.
Tesla’s Bitcoin Holdings
Tesla has not publicly acknowledged any changes to its Bitcoin holdings. Even in their most recent earnings report from January, there is no mention of the cryptocurrency. The Q4 report did disclose that Tesla held 9,720 Bitcoin worth $387 million and did not engage in any buying or selling activities throughout the quarter.
Here are some key points regarding Tesla’s Bitcoin journey:
- Tesla invested $1.5 billion in February 2021 and acquired approximately 43,000 BTC.
- The company initially accepted Bitcoin as a payment method but later reversed this policy.
- Tesla reduced its holdings of Bitcoin following these decisions.
SpaceX’s Bitcoin Holdings
Due to its private status, not much is known about SpaceX’s Bitcoin holdings. However, the Wall Street Journal reported that the aerospace manufacturer altered its Bitcoin investments by $373 million between 2021 and 2022, including divesting a portion of the asset.
Hot Take: Tesla and SpaceX Secure Their Crypto Fortunes 💰🚀
The revelation of Tesla and SpaceX’s substantial Bitcoin holdings sheds light on their involvement in the crypto market. Here are some key takeaways:
- Tesla holds 11.51K BTC valued at $780 million, while SpaceX possesses 8.29K BTC totaling $560 million.
- These figures align with financial disclosures from both companies.
- Tesla made a $1.5 billion BTC purchase in January 2021 but subsequently reduced its holdings through significant sales.
- SpaceX’s Bitcoin investments fluctuated by $373 million between 2021 and 2022.
It will be interesting to see how these companies continue to navigate the crypto landscape in the future. Will they increase their holdings or explore other digital assets? Only time will tell.
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