Arkham's claims indicate that Tesla and SpaceX hold a combined total of 11,510 Bitcoins, which amounts to approximately $1.34 billion in value.
In Brief
Arkham disclosed that it has traced Bitcoin addresses pertaining to the automotive and sustainable energy giant, revealing significant holdings.
Encryption data analysis platform Arkham The organization has publicly declared that it has pinpointed the Bitcoin addresses connected to Tesla, a leader in automotive innovation and clean energy. Tesla and aerospace company SpaceX on the blockchain.
According to Arkham, Tesla reportedly holds around 11,510 BTC distributed across 68 wallets, which equates to approximately $780 million. On the other hand, SpaceX is claimed to hold 8,290 Bitcoins across 28 wallets, worth roughly $560 million. Bitcoins The flow of funds traced on the blockchain by Arkham corresponds with the official financial reports from both Tesla and SpaceX. Their analysis indicates that Tesla made a purchase of $1.5 billion in Bitcoin back in January 2021 and later executed two sales: one for $272 million in the first quarter of 2021 and another for $936 million in the second quarter of 2022. Notably, Tesla accepted Bitcoin for vehicle purchases for a brief period from March 24 to May 12 in 2021.
Moreover, through its Tesla Intelligence Exchange Bounty program, Arkham discovered a transaction pertaining to the acquisition of a Tesla vehicle that relates to the broader collection of holdings by Tesla.
EXCITING NEWS: TESLA AND SPACEX HAVE JOINED ARKHAM!
Elon Musk, who heads both companies, has demonstrated a dynamic relationship with Bitcoin. Back in 2021, he showcased enthusiasm for the digital currency, indicating that Tesla would hold Bitcoin through on-chain wallets. However, he later reversed the decision to accept BTC for vehicle sales, citing concerns regarding environmental impact.
Elon Musk’s Bitcoin Journey
In addition to Tesla, SpaceX, another of Elon Musk's ventures, has also included Bitcoin in its financial strategy, a move encouraged by Michael Saylor, the co-founder and executive chair of MicroStrategy, who catalyzed Musk's decision to add Bitcoin to his company’s assets. MicroStrategy stands as a massive player in the Bitcoin market, holding an impressive 193,000 BTC, while Tesla ranks third among public entities in Bitcoin accumulation, trailing MicroStrategy and another well-known cryptocurrency player. Bitcoin mining .
Arkham's open analysis of its data underscores the Bitcoin reserves belonging to both Tesla and SpaceX, illustrating the complex relationship between blockchain records, official financial documents, and Elon Musk’s evolving engagement with cryptocurrency. MicroStrategy It's crucial to recognize that the information presented on this platform is not meant to serve as legal, tax, investment, or financial guidance of any kind. It’s essential to invest only what you are prepared to lose and to seek out independent financial advice if you're uncertain. For more details, we recommend reviewing the terms and conditions, along with the support pages provided by the issuer or advertiser. MetaversePost is dedicated to offering accurate and impartial news coverage; however, market dynamics can shift unexpectedly. Marathon Digital .
Alisa, a committed journalist for Cryptocurrencylistings, specializes in the realms of cryptocurrency, zero-knowledge proofs, investment strategies, and the vast landscape of Web3. With her sharp insight into emerging technologies and trends, she provides in-depth reporting that not only informs but also captivates readers within the fast-paced world of digital finance.
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