News

Tesla Bitcoin Holdings Surpasses $1 Billion Mark Despite No More Buying

Key Points:

  • Tesla Bitcoin holdings have exceeded $1 billion again, benefiting from recent price surges and holding steady with 11,509 BTC.
  • The company’s initial $1.5 billion Bitcoin purchase in 2021 has seen fluctuations, but Tesla has retained its current holdings without further acquisitions.
Tesla Bitcoin holdings have once again crossed the $1 billion mark amid a record-high price of the cryptocurrency.

Read more: Bitcoin Reserve Strategy Expected to Be Approved in Trump’s First 100 Days

Tesla Bitcoin Holdings Rebound Above $1 Billion Mark

According to Arkham Intelligence, Tesla currently has 11,509 Bitcoins on the Coinbase Prime platform – about $1 billion at a rate of $87,206 per Bitcoin. The Tesla Bitcoin holdings gained $96.77 million in just a few days, putting Tesla’s stake back in unrealized profit.

Tesla initially bought Bitcoin back in the first quarter of 2021, spending $1.5 billion on the cryptocurrency. Since then, the company has sold some of its stash, and its total Bitcoin assets have fallen below the billion-dollar level.

Despite this, Tesla has kept the rest of its Bitcoin and has neither sold nor added to the current position until now, continuing with its steady position that has risen high. The valuation gain reportedly comes from the surge in price of Bitcoin recently and not by additional buys from Tesla.

MicroStrategy Surpasses Tesla on Aggressive Bitcoin Purchases

The resurgence of institutional interest in cryptocurrency has been marked by growing anticipation of U.S. spot Bitcoin ETFs and the re-election of a crypto-friendly administration.

Tesla adopted a conservative strategy compared to other companies such as MicroStrategy, led by Michael Saylor added 27,200 BTC to his company’s stash not so long ago, taking its total to 279,420 BTC and over $24 billion in value.

Tesla still appears committed to the Bitcoin it already owns, while MicroStrategy’s approach is much more aggressive, with Saylor repeating the company’s long-term pledge to expand its hoard of Bitcoins.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Italy Considers Reducing Proposed Italy Crypto Tax to 28%

Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…

1 hour ago

Bitcoin Spot ETF Inflows Reach $818M Amid 5-Day Positive Streak

Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…

1 hour ago

Elon Musk Invests $200M in Trump, Treats Government Like X (Twitter)

Elon Musk applies his X (Twitter) management style to politics. His political strategies, including voter…

3 hours ago

PayPal Stablecoin PYUSD Now Available for Cross-Chain Trading via LayerZero

PayPal stablecoin PYUSD can now transfer seamlessly between Ethereum and Solana via LayerZero.

4 hours ago

New Department of Government Efficiency Will Be Led by Musk

President-elect Trump plans to establish the Department of Government Efficiency, led by Elon Musk and…

4 hours ago

Best Crypto to Join in November 2024 – Why Now’s the Time to Invest

Imagine you’re navigating the unpredictable seas of cryptocurrency, where market waves can knock the unprepared…

5 hours ago

This website uses cookies.