Elon Musk’s Companies Hold Over $1.3 Billion in Bitcoin

Blockchain analytics firm Arkham Intelligence has revealed that Tesla and SpaceX, two companies owned by Elon Musk, hold over $1.3 billion worth of Bitcoin (BTC) across 96 addresses.

Tesla’s Bitcoin Holdings

Arkham identified that Tesla currently holds 11,510 BTC ($780 million) across 68 addresses. This includes the $1.5 billion worth of Bitcoin purchased by Tesla in 2021. The company briefly accepted Bitcoin as payment for its vehicles but discontinued the practice in 2022.

SpaceX’s Bitcoin Holdings

SpaceX holds 8,290 BTC ($560 million) across 28 addresses. Arkham’s analysis aligns with financial statements from both Tesla and SpaceX.

Musk’s Long-Term Bitcoin Strategy

In 2021, Musk acknowledged that he and both Tesla and SpaceX hold Bitcoin on their balance sheets for the long term.

Bitcoin’s Current Value

At the time of writing, Bitcoin is trading at $67,897, a 1.47% increase over the past 24 hours.