- According to information uncovered by blockchain tracker Arkham, Elon Musk’s Tesla and SpaceX are reported to hold a substantial amount of Bitcoin.
- As per the data revealed by Arkham, Tesla currently holds 11.51K BTC worth $780 million spread across 68 different addresses, while SpaceX has 9.29K BTC worth $560 million spread across 28 different addresses.
- The extraordinary holdings of one of the world’s most famous entrepreneurs reflect significant optimism around the first digital currency.
How much Bitcoin Elon Musk’s Tesla and SpaceX hold was detected by Arkham and added to the platform: Here are the reports!
Details of Tesla and SpaceX’s Bitcoin Holdings Added to Arkham
In a noteworthy revelation in the crypto world, it has been reported that Elon Musk’s Tesla and SpaceX hold a massive amount of Bitcoin, as uncovered by blockchain tracker Arkham. These holdings, exceeding $68,000, have garnered notable attention among global crypto market traders and investors, surpassing a new All-Time High (ATH) for BTC above $68,000 this week.
These accumulations are distributed across nearly 100 different addresses, showcasing Musk’s extraordinary confidence in the world’s first digital asset. Meanwhile, as the Bitcoin halving approaches, the statement mentioned above further strengthens investor sentiment around Bitcoin. According to CoinMarketCap data, Bitcoin continued its upward movement today, briefly experiencing a slight dip.
According to the information provided by Arkham, Tesla currently holds 11.51K BTC worth $780 million spread across 68 different addresses, while SpaceX has 9.29K BTC worth $560 million spread across 28 different addresses. Arkham went further in its research by identifying on-chain fund flows matching Tesla and SpaceX’s financial statements.
Interestingly, it was revealed that Tesla purchased $1.5 billion worth of BTC in January 2021 and sold it in two separate instances. According to Arkham, Tesla’s first BTC sale date is based on a $272 million sale in the first quarter of 2021. On the other hand, the second sale date is based on a $936 million BTC sale in the second quarter of 2022.
In addition to this data, Arkham highlighted another interesting event where Tesla allowed the purchase of Tesla (cars) with Bitcoin between March 24 and May 12, 2021. In line with this event, the tracker identified a Tesla car purchase associated with Tesla’s BTC assets, leading to further implications.
The extraordinary holdings of one of the world’s most famous entrepreneurs reflect significant optimism around the first digital currency. With Bitcoin already reaching new highs fueled by Bitcoin ETFs and pre-halving bullish market sentiment, greater pump expectations persist as the halving is yet to occur.
Bitcoin Price Rises
At the time of writing, the Bitcoin price recorded a 0.71% increase in the last 24 hours and is currently trading at $66,734. The recent ATH above $68,000, along with bullish market expectations fueled by ETFs and pre-halving sentiment, has further heightened optimism.
The displayed bull run of the token with a 54.97% monthly increase indicates that Musk’s companies’ accumulations have contributed to this optimism. Crypto enthusiasts largely remain optimistic about Bitcoin’s strong price movement, attributing it to the massive holdings of Tesla and SpaceX contributing to the positivity in an environment where the halving is approaching.
