After bitcoin data analytics provider Arkham Intelligence added Tesla's bitcoin wallet tracking feature to its dashboard, the cryptocurrency world once again began discussing Tesla's bitcoin holdings.
As of this writing, Tesla has 1,789 more bitcoins in its wallet than it did in its most recent earnings report, when it reported 9,720 bitcoins. The current balance is about 11,509 bitcoins.
Elon Musk, CEO of Tesla, announced in February 2021 that he was going to buy bitcoin, which was a big deal for the cryptocurrency markets.
Did Tesla Just Buy More Bitcoins?
Users of social media platform Arkham data, a popular crypto data analysis platform.
Previous estimated holdings were most likely off. pic.twitter.com/omakgeFp7c
– Google Play (,) (@0xG00gly) March 7, 2024
Musk and Tesla have remained silent in the face of these accusations.
Musk's interaction with bitcoin has been a rollercoaster of feelings. In 2021, he initially conveyed a positive outlook on btc, revealing Tesla's intention to hold its own bitcoin through on-chain wallets.
However, this enthusiasm took an abrupt turn within weeks when Musk reversed the decision to accept btc payments for Tesla vehicles, attributing the change to environmental apprehensions related to bitcoin mining.
Meanwhile, a recent change in Tesla's bitcoin numbers has sparked speculation about new purchases. While some X users believe that Tesla could be buying back bitcoin, this is not yet confirmed. The change could be due to several reasons, and neither Tesla nor Elon Musk have commented on the matter.
Tesla's bitcoin wallet as shown by Arkham Intelligence.
According to social media rumors, Tesla allegedly bought around 1,000 bitcoin. However, closer examination of the source of these reports suggests that they could simply be the result of misinterpretation.
Yeah @ArkhamIntel On-chain tracking is accurate, Tesla has acquired an additional 1,789 btc since the last earnings announcement and is likely to announce it in the next earnings.
– @Tesla He used to reveal his bitcoin holdings through earnings,
2021 – sold 4,320 btc
2022 – sold… https://t.co/6eclXo3TxG– Definilist (@definalist) March 7, 2024
Comparing the image above to its previous earnings report from January 2024, which indicated it had 9,700 bitcoin, Tesla actually has 11,500 bitcoin. Investors began to wonder if Tesla was covertly purchasing more bitcoin as a result of this disparity.
Apparently they haven't bought anything since their last earnings, so the excess amount probably comes from product sales, as someone suggested.
But it's good to have their addresses now. https://t.co/V34FTvPGXR pic.twitter.com/P67hhkagjY
-Ekata (@ekataCT) March 7, 2024
Tesla's bitcoin Saga: From Billions to Millions
In February 2021, Tesla announced a $1.5 billion bitcoin purchase, following a conversation between CEO Elon Musk and MicroStrategy's Michael Saylor about the company adding bitcoin to its holdings. of electric vehicles.
bitcoin is now trading at $67.888. Chart: TradingView
However, Tesla subsequently sold a portion of its bitcoin holdings, including $272 million in the first quarter of 2021 and 75% of the remaining balance in July 2022. This move contributed $936 million to Tesla's cash flow. the company.
The exact amount of bitcoin Tesla currently holds is unknown, but estimates based on historical prices suggest it is around 9,720 bitcoin. The company initially accepted bitcoin as a payment method for cars, but discontinued the practice due to environmental concerns surrounding bitcoin mining.
Featured image from Pexels, chart from TradingView
