Tesla and SpaceX Bitcoin Holdings Hit $2B Amid BTC Surge

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Cryptotimes2024/12/07 16:00

By:Jalpa BhavsarJahnu Jagtap

Elon Musk’s two major companies have seen their Bitcoin holdings reach a combined value of $2 billion as Bitcoin’s price approaches the near $100,000 milestone.

Tesla and SpaceX Bitcoin Holdings Hit $2B Amid BTC Surge image 0

Tesla and SpaceX BTC holding, Source: X

As per the data from Arkham Intelligence, Tesla possesses approximately 11,509 BTC, valued at around $1.17 billion USD, while SpaceX holds about 8,285 BTC, worth approximately $842 million USD.

These bitcoins were purchased at an average of $34,980 per BTC. The price of bitcoin had risen to about $100, as a result, the holding has generated a gain of about $1.3 billion, a 186% rise in their initial investment.

In 2021, Tesla announced that its initial investment in Bitcoin was $1.5 billion. The company briefly accepted Bitcoin as payment for its vehicles before suspending the option due to environmental concerns.

Tesla recently transferred its Bitcoin holdings , worth $760 million, from its public wallet in a sequence of quick transactions. However, the company still likely holds $780 million in Bitcoin.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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