Arkham Reveals Tesla and SpaceX’s Bitcoin (BTC) Stash: Report

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Arkham Intelligence has revealed that Tesla currently possesses 11.51K BTC, valued at $780 million, distributed across 68 addresses, while SpaceX holds 8.29K BTC, totaling $560 million, spread across 28 wallets.

These findings are substantiated by on-chain fund flows that align with financial disclosures from both companies.

Tesla and SpaceX’s Vaults: $1.34B in BTC Holdings Laid Bare

In a tweet on X platform, the blockchain analytics platform said that Tesla made a notable entry into the crypto market with a $1.5 billion BTC purchase in January 2021, followed by two significant sales: $272 million in Q1 2021 and $936 million in Q2 2022.

“Arkham has identified the BTC holdings of Tesla and SpaceX. We are the first to publicly identify these holdings on chain.”

Additionally, the EV maker briefly allowed Bitcoin transactions for purchasing vehicles between March 24 and May 12, 2021, as corroborated by its Tesla Intel Exchange Bounty, which unveiled a Tesla car acquisition linked to this extensive cluster of its holdings.

Tesla initiated its engagement with Bitcoin by investing $1.5 billion back in February 2021, acquiring approximately 43,000 BTC. Simultaneously, the company announced its acceptance of Bitcoin as a payment method. However, subsequent decisions resulted in a reversal of this policy, with Tesla reducing its holdings of the premier crypto asset.

Tesla and SpaceX’s Bitcoin Holdings

Tesla’s public statements have not acknowledged any changes to its Bitcoin holdings. Even the most recent earnings report, issued in January, makes no mention of the cryptocurrency. In fact, its Q4 report showed that the car manufacturing giant held 9,720 Bitcoin holdings worth $387 million and refrained from buying or selling the asset throughout the quarter.

Meanwhile, not much is known about SpaceX’s Bitcoin holdings owing to its status as a privately held entity. Despite these, the WSJ report revealed that the spacecraft manufacturing firm altered its Bitcoin investments by $373 million between 2021 and 2022, including the divestiture of a certain portion of the asset.

The post Arkham Reveals Tesla and SpaceX’s Bitcoin (BTC) Stash: Report appeared first on CryptoPotato.

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