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    Elon Musk Companies SpaceX And Tesla Hold Over $1.3 Billion In Bitcoin, Arkham Intelligence Says

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    Crypto wallets belonging to Tesla and SpaceX, both owned by Elon Musk, hold over $1.3 billion in Bitcoin (BTC), says Arkham Intelligence.

    The on-chain sleuth revealed in a Mar. 7 report that Tesla currently holds around 11,500 BTC worth more than $773 million at BTC’s current price, while wallets linked to SpaceX contain $555 million worth of the leading cryptocurrency.

    Tesla’s BTC Holdings Increased Since Its Last Earnings Call

    Tesla holds 1,789 BTC, more than declared in the company’s previous earnings call, suggesting it has purchased more BTC recently. Tesla and Elon Musk, the company’s CEO, have not confirmed if the company purchased more BTC.

    Data from Arkham Intelligence shows that Tesla bought $1.5 billion worth of BTC in February 2021. It then sold around 4,320 coins a month later, before another sale of 29,160 bitcoins in the second quarter of the following year. SpaceX also dumped a substantial amount of its BTC holdings on the market over a similar period. 

    Elon Musk Companies In Profit On Corporate Bitcoin Investments

    The increase in BTC’s price has pushed SpaceX’s profits on the crypto to approximately $132 million, while Tesla is approximately $455 million in the green, Arkham said.

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