Bitcoin Holdings of Tesla and SpaceX Unveiled, Totaling $1.3 Billion

Bitcoin Holdings of Tesla and SpaceX Unveiled, Totaling $1.3 Billion

By: Isha Das

According to data provided by Arkham Intelligence, Tesla and SpaceX, both enterprises owned by Elon Musk, possess a combined total of $1.3 billion in Bitcoin. Computations indicate that Tesla holds 11,510 BTC, which is estimated at $780 million, while SpaceX accounts for 8,290 BTC, equivalent to $560 million.

The financial traces of the Bitcoin assets held by both companies align with their respective public financial declarations. Tesla, for instance, announced the purchase of $1.5 billion worth of Bitcoin in January 2021. The electric vehicle giant later sold off some of these assets; $272 million in Q1 2021 and $936 million in Q2 2022.

SpaceX's cryptocurrency activities, on the other hand, remain somewhat veiled. The company's operations and investments in Bitcoin are less transparent compared to Tesla, owing to its private company status. However, reports suggest an adjustment to SpaceX's Bitcoin holdings by $373 million between 2021 and 2022, including a sell-off of a portion of the asset.

Arkham Intelligence, in their ongoing analysis, has identified significant holders of Bitcoin in addition to these Musk-owned firms. The analytics firm has also previously located on-chain Bitcoin addresses linked to substantial entities such as the Grayscale Bitcoin Trust (GBTC), MicroStrategy, and Robinhood's cryptocurrency trading platform.

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