Tesla’s Bitcoin Holdings Surpass $1 Billion
- Tesla holds 11,509 BTC valued at over $1 billion.
- El Salvador’s bitcoin assets exceed $500 million.
- MicroStrategy’s unrealized profit from bitcoin investments surpasses $10 billion.
- The German government missed out on $1.6 billion in profit by selling 50,000 BTC in the summer.
The value of Tesla’s digital gold on its balance sheet has exceeded $1 billion due to a rise in its price. The company holds 11,509 BTC, according to Arkham data.
According to BitcoinTreasuries, the electric vehicle manufacturer is the fourth-largest corporate holder of the leading cryptocurrency. The service reports that the company owns 9,720 BTC.
In February 2021, it was revealed that Tesla invested $1.5 billion in bitcoin. Elon Musk described these investments as “quite risky.”
Later that spring, the company began selling electric cars for digital gold, but subsequently abandoned this option.
By the end of the second quarter of 2022, Tesla had converted approximately 75% of its cryptocurrency into fiat, yielding $936 million.
The largest bitcoin holder among public companies is MicroStrategy, which holds 279,420 BTC, acquired for $11.9 billion at an average rate of $42,692. At the time of writing, the assets are valued at $23.75 billion. The unrealized profit has exceeded $10 billion.
El Salvador
The value of El Salvador’s bitcoin assets has surpassed $500 million. The country holds 5,932 BTC, according to Arkham data.
In 2021, El Salvador recognized bitcoin as legal tender alongside the US dollar. Businesses are required to accept cryptocurrency as payment if they have the technical capability.
Subsequently, the country’s president, Nayib Bukele, announced purchases of digital gold, mining, and other bitcoin initiatives.
The state employs a DCA strategy, acquiring 1 BTC each day.
Bitcoin Sellers in “Paper Loss”
The German government lost $1.6 billion in potential profit by selling 50,000 BTC for $2.88 billion in the summer of 2024. The average price of the coins sold was $57,600.
In July, Bundestag member Joana Cotar criticized the sales of bitcoin confiscated by authorities, calling these actions counterproductive.
The German government is not the record holder for missed profits. The US government, through 11 auctions, sold 195,091 BTC for $366.5 million, according to tracker data. If the coins were sold at the current price of around $85,000, the country could have earned $16.5 billion.
The strategy of the US authorities may change with Donald Trump’s return to the presidency.
Back in the summer, he promised to create a strategic national bitcoin reserve and exclude the sale of confiscated BTC.
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