Cryptocurrency intelligence company Arkham stated in a post yesterday that Tesla holds approximately 11,510 BTC in 68 addresses, while SpaceX holds approximately 8,290 BTC in 28 addresses. If the data is accurate, it means that Tesla has once again increased its holdings by nearly 1,800 BTC.
Background:
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Summary:
Cryptocurrency intelligence company Arkham announced yesterday on X that it has been tracking the Bitcoin holdings of electric vehicle manufacturer Tesla and SpaceX. It is worth noting that they found that Tesla currently holds approximately 11,510 BTC (about $780 million) in 68 addresses, while SpaceX holds approximately 8,290 BTC (about $560 million) in 28 addresses.
Will Musk buy Bitcoin again?
According to the data disclosed in Tesla’s previous financial report, it held 9,270 BTC, while the data released by Arkham now shows an increase of approximately 1,800 BTC. This means that if Arkham’s statistics are correct, Tesla is likely to announce an increase in its holdings in the next financial report.
Tesla previously spent $1.5 billion to purchase Bitcoin.
It is understood that Tesla’s first Bitcoin purchase transaction occurred in February 2021, when a document submitted to the U.S. SEC showed that Tesla had purchased $1.5 billion worth of Bitcoin and announced that it would soon accept Bitcoin as a payment option for its cars and other products.
It is worth noting that at that time, the price of Bitcoin was less than $39,000. After media reports, the price of Bitcoin quickly skyrocketed, reaching over $50,000 at one point. However, less than two months later, on May 13, 2021, Musk announced that Tesla would no longer accept Bitcoin as payment, causing Bitcoin to plummet by 15% and dropping to $46,000 at one point.
In addition, Tesla has also reduced its Bitcoin holdings twice:
In the later part of the first quarter of 2021, Tesla sold 10% of its holdings at the peak, resulting in an increase in earnings of $272 million for that quarter.
In 2022, before the Bitcoin crash, Tesla sold nearly 30,000 BTC for approximately $936 million, accounting for 75% of its holdings.
If Tesla and SpaceX really increase their Bitcoin holdings in the next financial report, it will undoubtedly be good news for Bitcoin, and the price of Bitcoin may continue to rise as a result.
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