Elon Musk's Companies SpaceX and Tesla Have More Than $1.3 Billion in Bitcoin, Arkham Intelligence Says

crypto wallets belonging to Tesla and SpaceX, both owned by Elon Muskowns more than $1.3 billion worth of bitcoin (btc), says Arkham Intelligence.

The on-chain sleuth revealed in a March 7 report that Tesla currently holds around 11,500 btc worth over $773 million in btc. bitcoin/”>Actual Price, while wallets linked to SpaceX contain $555 million in the leading cryptocurrency.

Tesla's btc Holdings Increased Since Its Last Earnings Call

tesla owns 1,789 btc, more than stated in the company's previous earnings call, suggesting it has purchased more btc recently. tesla and Elon Muskthe company's CEO, have not confirmed whether the company purchased more btc.

BREAKING: TESLA AND SPACEX ARE NOW IN ARKHAM

Arkham has identified Tesla and SpaceX's btc holdings. We are the first to publicly identify these stakes in the chain.

We believe that Tesla currently has 11.51 thousand btc ($780 million) in 68 addresses, and SpaceX has 8.29 thousand btc ($560 million)… pic.twitter.com/vwoEJ0h0dS

– Arkham (@ArkhamIntel) March 7, 2024

Data from Arkham Intelligence shows that Tesla bought $1.5 billion worth of btc in February 2021. It then sold around 4,320 coins a month later, before another sale of 29,160 bitcoins in the second quarter of the following year. SpaceX also dumped a substantial amount of its btc holdings into the market during a similar period.

The on-chain fund flows we have identified match the financial statements of Tesla and SpaceX.

Tesla bought $1.5 billion worth of btc in January 2021 and sold btc on 2 occasions:

Sold $272 million of btc in the first quarter of 2021
Sold $936 million of btc in the second quarter of 2022

Tesla allowed purchases of Teslas in bitcoin between March 24… pic.twitter.com/d7xLcyPmT6

– Arkham (@ArkhamIntel) March 7, 2024

Elon Musk's companies profit from corporate investments in bitcoin

The rise in btc price has lifted SpaceX's earnings in the cryptocurrency to about $132 million, while Tesla is about $455 million in the green, Arkham said.

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