Arkham Intelligence recently revealed the total Bitcoin holdings of Tesla and SpaceX, owned by Elon Musk. According to the data, the two companies together hold around 19,788 Bitcoins worth a total of $1.30 billion.
Of these holdings, Tesla holds about $780 million in Bitcoin, while SpaceX holds about $560 million. These holdings reflect Muskâs strong optimism about Bitcoin.
Tesla began investing in Bitcoin in 2021 to increase its financial returns, and had previously announced accepting Bitcoin as a means of payment before reversing this step, justifying it due to the high energy consumption that causes environmental damage. Musk promised that if the Bitcoin mining industry switches to using environmentally friendly resources, he may reconsider adopting Bitcoin as a means of payment.
