Elon Musk's Firms Hold Over $1.3 Billion in Bitcoin

Arkham Intelligence reveals Tesla and SpaceX's substantial Bitcoin investments, marking a significant presence in the cryptocurrency market.

Arkham Intelligence uncovers Bitcoin wallets of Tesla and SpaceX, showing a combined holding exceeding $1.3 billion.
Tesla's Bitcoin holdings are valued at over $771 million, while SpaceX's holdings are approximately $555 million.
During the crypto crash of May 2022, both companies sold off a significant portion of their Bitcoin holdings, with SpaceX incurring a net loss and Tesla breaking even.
SpaceX's Bitcoin position turned profitable by November 2023, benefiting from the ongoing Bitcoin bull run, with a current profit of $132 million.
Tesla currently enjoys a $455 million profit on its Bitcoin investments, indicating a successful recovery and growth in the cryptocurrency market.