Arkham Intelligence, a blockchain analytics platform, has revealed that Elon Musk’s companies, Tesla and SpaceX, own a substantial amount of Bitcoin. The addresses linked to these companies hold approximately 19,794 BTC, valued at over $1.3 billion at current market rates.
Arkham made this discovery public, stating, “We are the first to publicly identify these holdings on chain.” Tesla’s Bitcoin portfolio comprises 11,509 BTC spread across 68 addresses, estimated at $770.7 million. SpaceX’s stake includes 8,285 BTC held in 28 addresses, valued at around $554.9 million.
These findings align with the financial disclosures of both companies. Tesla made a $1.5 billion Bitcoin purchase in January 2021, with subsequent sales in Q1 2021 ($272M in BTC) and Q2 2022 ($936M in BTC). Furthermore, Tesla briefly accepted Bitcoin as payment for vehicle purchases between March and May 2021.
In 2021, Elon Musk revealed SpaceX’s ownership of Bitcoin during a talk, but the specific amount was not disclosed due to the company’s private status. This disclosure coincided with Musk’s announcement of Tesla’s significant Bitcoin acquisition.
In a report from the Wall Street Journal last year, SpaceX’s Bitcoin holdings underwent a $373 million write-down, showcasing the volatility of the cryptocurrency within Musk’s enterprises.
As the crypto community awaits responses from Tesla and SpaceX regarding Arkham’s claims, this development highlights the increasing connection between mainstream corporate finance and the digital asset ecosystem.