In keeping with the newest Arkham information, Elon Musk’s ventures, Tesla and SpaceX, maintain over $1 billion value of Bitcoin.
Arkham’s on-chain analysis discovered that Bitcoin transactions and flows had been similar to SpaceX and Tesla’s stability sheets. The info reveals that Tesla bought $1.5 billion of BTC in January 2021.
Simply two months after that, the auto giants briefly allowed the acquisition of Tesla in Bitcoin. Tesla’s BTC holdings have elevated since then, as a big cluster of the present holdings appears associated to a selected automotive sale.
Tesla solely bought its BTC portfolio on two events, one within the first half of 2021 and one other in 2022. The corporate bought a big chunk of BTC value $936 million within the second quarter of 2022, in the beginning of the bear market, when Bitcoin started dipping beneath $40,000. Tesla presently holds simply over $772 million in BTC.
![Tesla Bitcoin Holdings](https://crypto.news/app/uploads/2024/03/2-1024x270.png)
SpaceX additionally acquired Bitcoin in 2021 and bought it for round $450 million in 2022. The corporate presently holds over $555 million in BTC.
The figures would make Tesla and SpaceX the third and fifth largest Bitcoin holders. Nonetheless, cumulatively, this makes Elon Musk’s ventures the second largest BTC holders after MicroStrategy. The biggest cryptocurrency stays bullish, reaching $68,000 once more right now after hitting its all-time excessive final week.