In the violent bull market of 2024, BTC has broken the previous high, and Musk Tesla chose to increase his position at this time! !
Tesla’s Bitcoin holdings increase,
1. Current status of Tesla’s Bitcoin holdings
According to reports, Tesla’s current Bitcoin holdings have reached approximately 11,500, worth up to $67,144. Compared with the data disclosed in the last financial report, its holdings have increased by more than 1,700, which has once again become the focus of heated discussion in the cryptocurrency community.
Crypto data platform tracks Tesla wallets
Crypto data analytics platform Arkham has recently added Tesla Bitcoin wallet tracking functionality to its dashboard. Data shows that the Tesla-related BTC wallet balance is 11,509 BTC, an increase of approximately 1,789 Bitcoins compared to the last reported 9,720 BTC.
Review of Tesla’s Bitcoin trading history
Tesla purchased $1.5 billion worth of Bitcoin at the peak of the bull market in February 2021 and planned to incorporate it into the payment system of Tesla cars. However, its enthusiasm for Bitcoin did not last long. In March 2021, Tesla sold about 10% of its Bitcoin holdings for the first time. By the second quarter of 2022, Tesla had sold approximately 75% of its Bitcoin reserves. The specific timeline is as follows:
February 2021: $1.5 billion worth of Bitcoin purchased March 2021: 4,320 Bitcoin sold 2022: 29,160 Bitcoin sold 2023: 9,720 Bitcoin balance remains unchanged
Musk has mixed feelings about Bitcoin
Musk’s attitude towards Bitcoin has always been complicated. In 2021, he has expressed optimistic expectations for BTC and plans to store Bitcoin in his personal name. However, he soon abandoned plans to accept Bitcoin payments in Tesla cars due to concerns about the environmental impact of Bitcoin mining.
Community speculation and Tesla’s official attitude
There is a lot of speculation in the community about whether Tesla has begun to buy back Bitcoin, and some believe that the recent changes in numbers may be due to accounting errors. Some users believe that Tesla may have started buying Bitcoin after its last earnings call and may announce the number of newly purchased Bitcoins in its next earnings report. However, Tesla and Musk himself have yet to comment on this.
Musk’s other companies and Bitcoin
In addition to Tesla, Musk's other companies, such as SpaceX, also hold Bitcoin on their balance sheets.Previously, MicroStrategy's CEO Michael Saylor successfully persuaded Musk to include Bitcoin in the company's assets, and MicroStrategy received a significant return on investment.
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