Bitcoin

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Arkham

Elon Musk

According to the latest Arkham data, Elon Musk’s ventures, Tesla and SpaceX, hold over $1 billion worth of Bitcoin.&nbsp; 
Arkham’s on-chain <a href="https://twitter.com/ArkhamIntel/status/1765705289674690822" target="_blank" rel="noopener">analysis</a> found that Bitcoin transactions and flows were identical to SpaceX and Tesla’s balance sheets. The data shows that <a href="https://platform.arkhamintelligence.com/explorer/entity/tesla" target="_blank" rel="noopener">Tesla</a> purchased $1.5 billion of BTC in January 2021.&nbsp; 
Just two months after that, the automobile giants briefly allowed the purchase of Tesla in Bitcoin. Tesla’s BTC holdings have increased since then, as a large cluster of the current holdings seems related to a particular car sale.&nbsp; 
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 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… <a href="https://t.co/d7xLcyPmT6" target="_blank">pic.twitter.com/d7xLcyPmT6</a>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1765705289674690822?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 7, 2024</a>
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 You might also like: <a href="https://crypto.news/elon-musk-sues-openai-worldcoin-sinks-by-5/"> Elon Musk sues OpenAI, Worldcoin sinks by 5% </a> 
Tesla only sold its BTC portfolio on two occasions, one in the first half of 2021 and another in 2022. The company sold a large chunk of BTC worth $936 million in the second quarter of 2022, at the beginning of the bear market, when Bitcoin began dipping below $40,000. Tesla currently holds just over $772 million in BTC. 
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<a href="https://platform.arkhamintelligence.com/explorer/entity/spacex" target="_blank" rel="noopener">SpaceX</a> also acquired Bitcoin in 2021 and sold it for around $450 million in 2022. The company currently holds over $555 million in BTC.&nbsp; 
The figures would make Tesla and SpaceX the third and fifth largest Bitcoin holders. However, cumulatively, this makes <a href="https://crypto.news/elon-musk-sues-openai-worldcoin-sinks-by-5/">Elon Musk’s</a> ventures the second largest <a href="https://www.techopedia.com/who-owns-the-most-bitcoin#:~:text=The%20top%20Bitcoin%20holder%20is,million%20BTC%20across%20many%20wallets." target="_blank" rel="noopener">BTC holders</a> after MicroStrategy. The largest cryptocurrency remains bullish, reaching $68,000 again today after hitting its all-time high last week.&nbsp; 
 Read more: <a href="https://crypto.news/btc-whale-activity-declines-amid-extremely-greedy-market-conditions/"> BTC whale activity declines amid extremely greedy market conditions </a>

Elon Musk’s Tesla, SpaceX owns more than $1.3b in Bitcoin

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