Posted 3/7/2024, 5:47:01 PM
Tesla and SpaceX Hold Billions in Bitcoin, Sold Hundreds of Millions During Crypto Crash
- Tesla holds 11,509 BTC worth $780M across 68 addresses; SpaceX holds 8,290 BTC worth $560M
- Arkham Intelligence identified the companies' Bitcoin wallets and transaction history back to early 2021
- Both companies sold hundreds of millions in BTC during 2022 crypto crash, incurring losses
- SpaceX's BTC position returned to profitability in November as prices rebounded
- Musk has a mixed history with crypto, briefly accepting BTC for Tesla purchases in 2021 before halting over mining concerns
