Analysts at the Arkham Intelligence platform have tracked cryptocurrency wallets belonging to Elon Musk’s companies, Tesla and SpaceX. Together, they hold 19,794 BTC.
BREAKING: TESLA & SPACEX ARE NOW ON ARKHAM
Arkham has identified the BTC holdings of Tesla and SpaceX. We are the first to publicly identify these holdings on chain.
We believe Tesla currently holds 11.51K BTC ($780M) across 68 addresses, and SpaceX holds 8.29K BTC ($560M)… pic.twitter.com/vwoEJ0h0dS
— Arkham (@ArkhamIntel) March 7, 2024
In February 2021, it was first revealed that Tesla was investing in Bitcoin. According to a filing with the SEC, the electric car manufacturer acquired digital gold worth $1.5 billion without specifying the number of coins or the purchase date. By the end of the second quarter of 2022, Tesla had converted approximately 75% of its cryptocurrency into fiat. Throughout 2023, it maintained its position in the asset.
Arkham Intelligence analysts discovered 68 Bitcoin wallets belonging to Tesla. In total, they hold 11,509 BTC valued at $779.4 million at the time of writing. The unrealized profit amounts to $465 million.
In the spring of 2021, Tesla sold its electric cars for Bitcoin, but later abandoned this option.
SpaceX’s crypto wallets currently hold 8,285 BTC valued at over $560.4 million at the time of writing. The company owns 28 Bitcoin addresses, according to Arkham Intelligence.
Earlier reports from the media indicated that in 2023, SpaceX had to sell hundreds of millions of dollars worth of Bitcoin, with some transactions resulting in losses.
Elon Musk himself has repeatedly stated that the first cryptocurrency “does not occupy his thoughts much,” and of all coins, he owns only “a large amount of Dogecoin“.
MicroStrategy remains the largest holder of Bitcoin among publicly traded companies, with 193,000 BTC on its balance sheet.
By the end of February, MicroStrategy’s unrealized Bitcoin gains surpassed $5.3 billion.