The Bitcoin holdings of Elon Musk’s companies, Tesla and SpaceX

Blockchain investigators from the on-chain intelligence platform Arkham have reportedly discovered the Bitcoin wallets of Elon Musk’s companies, Tesla and SpaceX. Their analysis suggests that these companies hold a combined total of over $1 billion in Bitcoin. Specifically, Tesla’s wallets hold over $771 million in Bitcoin, while SpaceX’s wallets contain approximately $555 million in BTC.

The report also provides an in-depth look at the companies’ Bitcoin transaction history since early 2021. During the crypto crash of May 2022, both Tesla and SpaceX sold a significant portion of their Bitcoin holdings as prices fell. While this resulted in a net loss for SpaceX, Tesla was able to break even.

By November 2023, coinciding with the current Bitcoin bull run, SpaceX’s Bitcoin position had recovered. Since then, the price of Bitcoin has nearly doubled, leading to a current profit of $132 million on SpaceX’s BTC holdings, according to Arkham’s estimates. Tesla, meanwhile, has a Bitcoin profit of $455 million.

If these findings are accurate, they suggest that the extent of Tesla and SpaceX’s Bitcoin investments were previously underestimated. Earlier estimates had pegged Tesla’s holdings at around 9,720 BTC, while SpaceX’s investment was unknown. However, Arkham’s analysis indicates that Tesla holds a larger amount of 11,509 BTC.