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

Updated: 08 March 2024

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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.

BREAKING: TESLA & SPACEX ARE NOW ON ARKHAM

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

We believe Tesla currently holds 11.51K BTC ($780M) across 68 addresses, and SpaceX holds 8.29K BTC ($560M)… pic.twitter.com/vwoEJ0h0dS

— Arkham (@ArkhamIntel) March 7, 2024

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.

The on-chain fund flows we’ve identified match financial statements from Tesla and SpaceX.

Tesla purchased $1.5B of BTC in Jan 2021, and sold BTC on 2 occasions:

Sold $272M BTC in Q1 2021
Sold $936M BTC in Q2 2022

Tesla allowed purchases of Teslas in Bitcoin between March 24… pic.twitter.com/d7xLcyPmT6

— Arkham (@ArkhamIntel) March 7, 2024

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.