According to blockchain investigators at Arkham, they claim to have unveiled the Bitcoin wallets of Elon Musk's companies, Tesla and SpaceX, disclosing a combined value surpassing $1 billion. Their analysis indicates that Tesla possesses over $771 million in Bitcoin across its wallets, while SpaceX's wallets contain roughly $555 million in BTC.
The report further explores the Bitcoin transaction history of these companies since early 2021. Notably, during the cryptocurrency crash of May 2022, both Tesla and SpaceX reportedly offloaded a significant portion of their Bitcoin holdings as prices plunged. While this resulted in a net loss for SpaceX, Tesla managed to break even.
However, SpaceX's Bitcoin position reportedly rebounded by November 2023, aligning with the ongoing Bitcoin bull market. Since then, Bitcoin's price has nearly doubled, leading to a current estimated profit of $132 million for SpaceX on its BTC holdings, as per Arkham's analysis. Meanwhile, Tesla is reported to be sitting on a $455 million profit from Bitcoin.
If these findings prove accurate, they suggest that the scale of Tesla and SpaceX's Bitcoin investments was previously underestimated. Initial estimates by analysts put Tesla's holdings at around 9,720 BTC, while SpaceX's investment remained unknown. Arkham's analysis reveals that Tesla actually holds a higher amount, totaling 11,509 BTC.