Recent data from Arkham reveals that Elon Musk’s companies, Tesla and SpaceX, possess more than $1 billion in Bitcoin. The analysis conducted by Arkham on the blockchain indicates that the Bitcoin transactions and balances align with the financial records of Tesla and SpaceX. Specifically, Tesla made a significant investment of $1.5 billion in BTC in January 2021.

Following this investment, Tesla briefly allowed customers to purchase their vehicles using Bitcoin. Subsequently, Tesla’s Bitcoin holdings have increased, with a significant portion of the current holdings linked to a specific car sale.

Key Highlights:

  • Tesla purchased $1.5 billion of BTC in January 2021.
  • Sold $272 million of BTC in Q1 2021.
  • Sold $936 million of BTC in Q2 2022.
  • SpaceX acquired Bitcoin in 2021 and sold it for around $450 million in 2022.
  • Tesla currently holds over $772 million in BTC, while SpaceX holds more than $555 million.

Despite these significant sales, Tesla and SpaceX remain major holders of Bitcoin. Tesla sold a substantial amount of BTC, totaling $936 million, in the second quarter of 2022 during the bear market phase. At present, Tesla’s BTC holdings amount to approximately $772 million.

SpaceX also entered the Bitcoin market in 2021, selling a portion of its holdings for about $450 million in 2022. Currently, SpaceX holds over $555 million in BTC. Collectively, Elon Musk’s ventures rank as the second largest holders of Bitcoin, trailing only MicroStrategy. The cryptocurrency market continues to show strength, with Bitcoin reaching $68,000 again after recently hitting an all-time high.

For more information on cryptocurrency news and market trends, explore Global Crypto News.

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