Arkham: Musk's Tesla and SpaceX hold nearly 20,000 bitcoins

The on-chain analytics firm Arkham claims to have identified that Tesla and SpaceX collectively hold 19,794 bitcoins, worth over $1.3 billion. Of these, 68 Tesla holding addresses collectively contain 11,509 bitcoins, valued at $780 million, while SpaceX holds 8,285 bitcoins across 28 addresses, worth $560 million.

Tesla's Unrealized Gains from Bitcoin Reach $390 Million

However, according to Tesla's latest financial report for the fourth quarter of last year, after purchasing 48,000 bitcoins in 2021, Tesla sold 4,800 bitcoins in the first quarter of 2021 and 32,400 in the second quarter of 2022. Since then, there have been no further changes, and Tesla's bitcoin inventory still stands at 10,800, with a book value of $184 million. This differs from Arkham's claim of 11,509 bitcoins by 709 bitcoins. Nevertheless, it is evident that Tesla's bitcoin book value has increased significantly. Calculated from our previous estimated purchase cost of $31,250 per bitcoin, Tesla's unrealized gains from bitcoin now amount to $390 million.

Take a look at how Tesla is making money! Where does Musk's wealth come from?

As SpaceX is a privately held company, it is not required to disclose its financial information, so we cannot verify its bitcoin holdings.

In March 2021, Tesla allowed customers to purchase Tesla vehicles using bitcoin, but then reversed the decision in May of the same year, causing bitcoin to temporarily drop by 15%. Musk cited the rapid increase in fossil fuel consumption, particularly coal, due to bitcoin mining and transaction transfers, which had a significant impact on carbon emissions.

Tesla Halts Bitcoin Payments! Musk Claims Mining is Not Environmentally Friendly, Dogecoin and Chia Coin Steal the Show