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Elon Musk's companies Tesla and SpaceX own over $1.3 billion in Bitcoin
The article reveals that two companies owned by billionaire Elon Musk own over $1.3 billion in Bitcoin (BTC). Tesla and SpaceX hold a total of 96 wallet addresses, holding 11,510 BTC ($780 million) for Tesla and 8,290 BTC ($560 million) for SpaceX, according to data from Arkham Intelligence. The article also highlights Tesla's purchase of $1.5 billion in Bitcoin in 2021 and the possibility of using Bitcoin as payment for Tesla vehicles. Elon Musk has publicly confirmed that both he and his companies hold Bitcoin on their balance sheets. The current Bitcoin price is $67,897 with an increase of 1.47% in the last 24 hours. Don't miss any news and subscribe to our newsletter.
Elon Musk's companies Tesla and SpaceX own over $1.3 billion in Bitcoin
Summary:
According to a recent press release, two companies owned by billionaire Elon Musk own over $1.3 billion in Bitcoin. The data was published by blockchain analysis firm Arkham Intelligence. According to their report, Tesla owns 11,510 BTC worth $780 million and SpaceX owns 8,290 BTC worth $560 million. The companies' BTC holdings were identified based on transactions on the blockchain that match Tesla and SpaceX's financial reports.
Impact of Tesla and SpaceX's BTC holdings
The fact that Tesla and SpaceX hold over $1.3 billion in Bitcoin has potentially significant implications for the cryptocurrency market and the perception of Bitcoin as a store of value. Elon Musk is a well-known figure in the crypto world and his tweets and statements have caused major fluctuations in the price of Bitcoin in the past. Therefore, the two companies' BTC holdings could increase investor confidence in Bitcoin and help attract more institutions and companies to invest in the crypto market.
Historical facts
This is not the first time that Musk and his companies have invested in the cryptocurrency market. In January 2021, Tesla announced that it had invested $1.5 billion in Bitcoin. Additionally, Tesla accepted Bitcoin as payment for its vehicles for a limited period of time. This decision led to an increase in the price of Bitcoin.
Table: Tesla and SpaceX BTC holdings
| Pursue | BTC holdings | USD value |
|---|---|---|
| Tesla | 11,510 BTC | $780 million |
| SpaceX | 8,290 BTC | $560 million |
The values in the table are based on information from Arkham Intelligence.
Conclusion
The fact that Tesla and SpaceX hold over $1.3 billion in Bitcoin is another milestone for the acceptance of cryptocurrencies in the mainstream economy. The BTC holdings of these two companies could increase the confidence of institutional investors in Bitcoin and pave the way for further investments in the crypto market. It will be interesting to see how this development affects the Bitcoin price and the general perception of cryptocurrencies.
Note: This article does not constitute investment advice. Investors should conduct their own due diligence before investing in Bitcoin or other cryptocurrencies.