The online analytics firm Arkham claims to have confirmed that Tesla and SpaceX jointly hold 19,794 bitcoins, worth over $1.3 billion. Among them, the 68 bitcoin addresses held by Tesla collectively own 11,509 bitcoins, worth $780 million, while SpaceX holds 8,285 bitcoins across 28 addresses, worth $560 million.
However, according to Tesla’s latest financial report for the fourth quarter of last year, after purchasing 48,000 bitcoins in 2021, Tesla sold 4,800 bitcoins in the first quarter of 2021 and 32,400 bitcoins in the second quarter of 2022. Since then, there have been no further changes, and Tesla’s bitcoin inventory still stands at 10,800, with a book value of $184 million. This differs from Arkham’s claim of 11,509 bitcoins by 709. Nevertheless, it can be seen that the book value of Tesla’s bitcoins has increased significantly. Based on our previous calculation of its purchase cost at $31,250, the unrealized gains from its bitcoins now amount to $390 million.
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As SpaceX is a privately held company, it is not required to disclose its financial information, so we have no way to verify its bitcoin holdings.
Tesla had previously allowed customers to purchase Tesla vehicles with bitcoins in March 2021 but quickly reversed the decision in May of the same year, causing a 15% drop in the price of bitcoin. At the time, Musk stated that bitcoin mining and transaction transfers rapidly increased the use of fossil fuels, especially coal, and had a significant impact on carbon emissions.
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Further reading
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