Recent on-chain data from Arkham Intelligence has unveiled the substantial Bitcoin reserves held by Elon Musk's companies, Tesla and SpaceX. This disclosure coincides with Bitcoin's price rally following the U.S. Federal Reserve's recent rate cut.
Tesla and SpaceX Combined Bitcoin Holdings
Arkham Intelligence reports that Tesla and SpaceX collectively hold $1.30 billion worth of Bitcoin, equivalent to 19,788 BTC at current market prices. This significant investment underscores Elon Musk's confidence in Bitcoin as a long-term store of value.
Breakdown of Holdings:
- Tesla: $780 million in BTC (as of March 2024)
- SpaceX: $560 million in BTC
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Tesla's Bitcoin Journey
Tesla first entered the Bitcoin market in February 2021, purchasing $1.5 billion worth of BTC to diversify its cash reserves. The company also announced plans to accept Bitcoin payments for its products, pending regulatory approvals.
Elon Musk confirmed SpaceX's Bitcoin holdings during the 2021 "The B Word" conference, stating:
"I do own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin."
Bitcoin Market Update
Bitcoin reached an intraday high of $66,439** recently (per CoinGecko) and has stabilized around **$65,000. Key metrics:
- Current Price: $65,765 (+0.36% daily, +4.4% weekly)
- Trading Volume: Down 33% in 24 hours
Despite typical September volatility, Bitcoin is poised for its strongest September performance to date.
FAQ Section
Q1: Why do Tesla and SpaceX hold Bitcoin?
A1: Both companies view Bitcoin as a hedge against inflation and a strategic reserve asset to maximize cash returns.
Q2: How much Bitcoin does Tesla own compared to SpaceX?
A2: Tesla holds ~$780M in BTC, while SpaceX owns ~$560M (totaling $1.3B).
Q3: Will Tesla resume Bitcoin payments for cars?
A3: No official announcement yet, but Musk previously cited environmental concerns about Bitcoin's energy usage as a limiting factor.
Q4: What’s driving Bitcoin’s current price surge?
A4: Factors include the Fed’s rate cut, institutional adoption, and positive market sentiment.
👉 Explore Bitcoin investment strategies for 2024
Q5: How does Arkham Intelligence track these holdings?
A5: Arkham uses on-chain analysis to map wallet addresses linked to public corporate disclosures.
Q6: Is SpaceX more bullish on Bitcoin than Tesla?
A6: Both companies maintain significant holdings, though Tesla has been more vocal about its crypto initiatives.
Note: All figures are based on publicly available data and may fluctuate with market conditions.
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