A new report has revealed the total bitcoin assets held by Elon Musk. tesla and SpaceX companies and how much profit they are making so far.
Tesla and SpaceX bitcoin Holdings Revealed
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 the owner of X (formerly Twitter). bitcoin/” rel=”nofollow”>Elon Musk. The full report also outlined Tesla's btc transactions spanning from 2021 to 2024.
According to Arkham, Tesla had bought around $1.5 billion worth of btc in January 2021. The automotive company subsequently initiated multiple transfers, opting to sell its bitcoin holdings valued at $272 million in the first quarter of 2021 and around $936 million in the second quarter. of 2022.
Arkham has reclaimed that the automotive company currently holds a staggering 11,510 btc, valued at $780 million. Besides, Tesla's important bitcoin holdings They are reportedly distributed across 68 wallet addresses.
On the other hand, SpaceX, a private space technology and exploration company, currently holds around $8,290 btc worth approximately $560 million. These assets are reportedly distributed across a total of 28 wallet addresses.
The combined bitcoin-holders-to-swap-asset/” rel=”nofollow”>btc Holdings of these two companies put them in a league comparable to the btc holdings of major financial institutions. Tesla has secured third position among the largest bitcoin holders, with MicroStrategy leading the list, with around 190,000 btc worth more than $8 billion.
Despite the considerable amount of bitcoin-and-gold-hit-record-breaking-milestones/” rel=”nofollow”>btc In the hands of Musk's companies, the CEO has apparently had a love-hate relationship with bitcoin. In early 2023, bitcoin bitcoin-below-25k-spacex-sells-all-btc-holdings/” rel=”nofollow”>crashed below $25,000 after Musk's SpaceX sold all of its bitcoin holdings. However, it seems that the space company is showing more interest in btc, as evidenced by its huge bitcoin portfolio.
Tesla may be buying more btc
A member of the crypto community, identified as “Definalist” on X, has shared ideassuggesting that bitcoin/” rel=”nofollow”>Tesla could be increasing its stake in bitcoin. Referring to Arkham Intelligence's report on Tesla's btc holdings, Definalist revealed Tesla's acquisition of an additional 1,790 btc.
Definalist has revealed that in 2023, Tesla's btc balance had around 9,720 btc. Fast forward to 2024, the automotive company's portfolio has expanded to 11,510 btc, revealing an unreported acquisition of an additional 1,790 btc.
This major bitcoin purchase could be attributed to growing enthusiasm for the cryptocurrency, fueled 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 rose to an all-time high of $69,200 on March 5, after which it returned to its current price level.
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btc price recovers above $67,000 | Source: BTCUSD on Tradingview.com
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