Tesla And SpaceX Bitcoin Holdings Are Now Disclosed With Over $1.3 Billion
Key Points:
Arkham’s data reveals that Tesla currently possesses 11.51 thousand BTC, valued at about $780 million, distributed across 68 addresses. Meanwhile, SpaceX holds approximately 8.29 thousand BTC, worth around $560 million, held in 28 addresses.
Tesla and SpaceX Bitcoin holdings highlight the significant impact corporate investments can have on the volatile cryptocurrency market, particularly when involving influential companies led by high-profile figures like Musk.
The disclosure of Tesla and SpaceX Bitcoin holdings marks a pivotal moment in the intersection of traditional corporate finance and the burgeoning world of cryptocurrency. It raises questions about the future role of digital assets in corporate investment strategies and the potential for other companies to follow in the footsteps of Musk’s ventures.
Arkham’s analysis also sheds light on Tesla’s Bitcoin purchase history. The company bought $1.5 billion worth of BTC in January 2021 and subsequently made two significant sales, amounting to $272 million and $936 million in the first and second quarters of 2021, respectively. Moreover, Tesla allowed purchases of its vehicles in Bitcoin between March 24 and May 12, 2021, as revealed through Arkham’s Tesla Intel Exchange Bounty.
With the crypto market known for its rapid fluctuations, the involvement of major corporations like Tesla and SpaceX could introduce a new level of stability or volatility, depending on their investment approaches and market reactions.
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