Tesla’s holding and investment in Bitcoin is important since the company’s Bitcoin wallets hold about 11,500 BTC, or around $771 million. This tells us that there is a jump of 1789 BTC from the amount reported in Tesla’s previous earnings declaration.
Wallets linked to Elon Musk’s SpaceX, meanwhile, contained some $555 million in BTC. So, now wallets containing the Bitcoin holdings of Elon Musk-owned firms Tesla and SpaceX collectively hold over a billion dollars.
Arkham’s analysis also gives a detailed history of the companies’ Bitcoin transaction history, stretching back to early 2021.
Some stockholders think that Tesla could have bought some bitcoins after its last quarterly performance. Neither Tesla nor Elon Musk, the company’s CEO, have confirmed whether the company has started to trade this cryptocurrency.
Tesla’s journey has been full of controversial events. The company bought bitcoins with a total value of around $1.5 billion in February 2021, and then it sold approximately 4320 bitcoins in March 2021 and continued selling an additional 29,160 bitcoins in the second quarter of 2022. It has been left with 9720 bitcoins since then.
However, the current increased holdings of 11,509 bitcoins suggest a purchase or trading of bitcoins in the meantime. Speculation sparked about it after this data circulated.
One user on X was curious whether Tesla has started repurchasing Bitcoin or whether the recent change in figures is due to an accounting error. Another user suggested that the company might have started buying BTC after the last earnings call and could report the newly purchased BTC in its next call. Tesla and Musk have yet to comment on whether Tesla is buying BTC.
As speculation mounts, the crypto community eagerly awaits official statements from Tesla to shed light on the company’s cryptocurrency strategy and the reasons behind the increased wallet balance.
Also Read: Bitcoin Flips Tesla In Market Cap With Recent BTC Bull Run
