Elon Musk’s companies have quietly built one of the largest Bitcoin (BTC) holdings in the world.
Tesla and SpaceX now own over $2 billion worth of Bitcoin combined, according to new data from Arkham Intelligence.
The two companies reportedly acquired Bitcoin at an average price of around $32,000. With Bitcoin trading well above that level, they are sitting on nearly $1.5 billion in profit.
The data comes from Arkham’s blockchain analytics platform, which has linked specific wallets to both companies.
Tesla’s Bitcoin investment has been public since early 2021. The company initially bought $1.5 billion in BTC and briefly accepted BTC payments for its cars.p
SpaceX’s position, however, remained less visible until Arkham identified associated wallets and provided updated estimates. Together, the holdings are now worth more than $2 billion.
Tesla and SpaceX reap rewards of long-term BTC holdings
This development highlights how long-term exposure to Bitcoin can pay off. Rather than trade in and out, Musk’s companies have held their BTC positions and are now in significant gains.
Knowing that Tesla and SpaceX are deep in profit at current price levels creates a psychological floor in the market.
The holdings also serve as a reminder that institutional players often accumulate during quiet periods and sit through volatility.
Musk has been an outspoken figure in the crypto world, though his public statements on Bitcoin have been limited in recent months. Still, these holdings suggest that behind the scenes, the commitment to BTC remains strong.
Arkham’s discovery adds visibility to just how far that commitment goes.
These assets may also give Musk new financial options. With Bitcoin on their balance sheets, Tesla and SpaceX have the ability to explore crypto-backed financing or strategic hedging.
That flexibility doesn’t exist with traditional cash or short-term treasuries alone.
Arkham’s confirmation could also spark curiosity about other major firms holding crypto under the radar. If SpaceX’s BTC wasn’t clearly visible until now, there may be other large corporate wallets waiting to be discovered.
Like Musk’s companies, Michael Saylor’s Strategy has been buying the leading cryptocurrency without selling.
The only difference is that Saylor has been outspoken about the purchases and encouraging other firms to do the same.
A new report shows that Strategy has made 21 BTC buys this year, out of which 20 have turned a profit. This achievement confirms Saylor as the best BTC accumulator.
Read the full article here
