CompaniesGlobal News

Tesla and SpaceX Hold Over $1 Billion in Bitcoin: Unveiling the Hidden Vaults

A relatively old post on X , from blockchain analysis firm Arkham Intelligence has sparked a stir in the cryptocurrency world. They claim to have identified the on-chain Bitcoin addresses for Elon Musk’s companies, Tesla and SpaceX, revealing a combined holding significantly larger than previously known.

Beyond the Public Ledger:

Tesla’s financial statements, which previously indicated holdings around 6,000 BTC, might not have captured the full picture. Arkham Intelligence’s analysis suggests a much deeper digital asset portfolio:

  • Tesla: Holds approximately 11,510 BTC (worth roughly $780 million) spread across 68 addresses.
  • SpaceX: Owns around 8,290 BTC (valued at approximately $560 million) distributed across 28 addresses.

Accounting Discrepancies:

The discrepancy between Tesla’s reported holdings and Arkham Intelligence’s findings might be due to accounting standards. Current rules often don’t reflect the appreciation in value of held cryptocurrencies unless they’re sold.

Unanswered Questions:

While the exact dates of initial Bitcoin purchases remain undisclosed, we do know:

  • Tesla: Publicly announced a $1.5 billion investment in Bitcoin in February 2021. They briefly accepted Bitcoin for car purchases later that year.
  • Tesla: Sold three-quarters (75%) of its holdings in Q2 2022.
  • SpaceX: CEO Elon Musk hinted at the company’s Bitcoin ownership during a 2021 talk, but details were scarce.
  • Did They Buy More? The big question remains: Did Tesla or SpaceX acquire additional Bitcoin after the initial investment?

More to Uncover:

Without specific transaction details from Arkham Intelligence or official statements from the companies, the timeframe of these holdings remains unclear. This revelation raises intriguing questions about the future of these hidden Bitcoin vaults. Will Tesla and SpaceX acknowledge these findings? How will their significant cryptocurrency holdings impact future financial strategies?

News Desk

UNLOCK Blockchain News Desk is fueled by a passionate team of young individuals deeply immersed in the world of Blockchain and Crypto. Our mission? To keep you, our loyal reader, on the cutting edge of industry news. Drop us a line at info(@) to connect with our team and stay ahead of the curve!

Related Articles

Back to top button