According to CryptoPotato, Arkham Intelligence has disclosed that Tesla currently holds 11.51K BTC, valued at $780 million, distributed across 68 addresses, while SpaceX possesses 8.29K BTC, totaling $560 million, spread across 28 wallets. These findings are supported by on-chain fund flows that align with financial disclosures from both companies. Tesla made a significant entry into the crypto market with a $1.5 billion BTC purchase in January 2021, followed by two major sales: $272 million in Q1 2021 and $936 million in Q2 2022.
Tesla briefly allowed Bitcoin transactions for purchasing vehicles between March 24 and May 12, 2021, as confirmed by its Tesla Intel Exchange Bounty, which revealed a Tesla car acquisition linked to this extensive cluster of its holdings. Tesla began its engagement with Bitcoin by investing $1.5 billion in February 2021, acquiring approximately 43,000 BTC. At the same time, the company announced its acceptance of Bitcoin as a payment method. However, subsequent decisions led to a reversal of this policy, with Tesla reducing its holdings of the premier crypto asset.
Tesla's public statements have not acknowledged any changes to its Bitcoin holdings. Even the most recent earnings report, issued in January, makes no mention of the cryptocurrency. In fact, its Q4 report showed that the car manufacturing giant held 9,720 Bitcoin holdings worth $387 million and refrained from buying or selling the asset throughout the quarter. Meanwhile, not much is known about SpaceX's Bitcoin holdings due to its status as a privately held entity. Despite this, the WSJ report revealed that the spacecraft manufacturing firm altered its Bitcoin investments by $373 million between 2021 and 2022, including the divestiture of a certain portion of the asset.
