Elon Musk's Tesla and SpaceX Bitcoin holdings are worth $1.3 billion, a gain of over half a million

Elon Musk's Tesla and SpaceX Bitcoin holdings are worth $1.3 billion, a gain of over half a million

According to on-chain intelligence platform Arkham, blockchain investigators claim to have discovered the Bitcoin wallets of Elon Musk's companies Tesla and SpaceX, revealing combined ownership of more than $1 billion. According to their analysis, Tesla holds over $771 million worth of Bitcoin in its wallets, while the SpaceX wallets hold about $555 million in BTC.

The report delves deeper into the companies' Bitcoin transaction history since the start of 2021. Notably, during the crypto crash in May 2022, both Tesla and SpaceX sold a significant portion of their Bitcoin holdings as prices collapsed. While these sales resulted in a net loss for SpaceX, Tesla managed to break even.

However, SpaceX's Bitcoin position recovered by November 2023, coinciding with the current Bitcoin bull run. Since then, the price of Bitcoin has almost doubled, giving SpaceX a current profit of $132 million from its BTC holdings, according to Arkham estimates. Tesla, on the other hand, is sitting on a Bitcoin profit of $455 million.

If these results are true, they suggest that the scale of Tesla and SpaceX's Bitcoin investments was previously underestimated. Previously, analysts estimated Tesla's holdings at around 9,720 BTC, while SpaceX's investment remained unknown. Arkham’s analysis shows that Tesla has a higher amount of 11,509 BTC

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