Tesla and SpaceX Hold Over $1.3 Billion Worth of Bitcoins: Arkham

Bitcoin Elon Musk Tesla

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Hongji Feng

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Hongji Feng

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Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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March 8, 2024 01:11 EST

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Arkham Intelligence

has allegedly pinpointed the Bitcoin addresses belonging to Tesla and SpaceX, with holdings valued at over $1.3 billion.

According to Arkham’s announcement on social media, the crypto intelligence firm claimed to have identified Tesla and SpaceX’s Bitcoin addresses through a meticulous analysis. They suggested these addresses align with the companies’ previous financial statements.

BREAKING: TESLA & SPACEX ARE NOW ON ARKHAM

Arkham has identified the BTC holdings of Tesla and SpaceX. We are the first to publicly identify these holdings on chain.

We believe Tesla currently holds 11.51K BTC ($780M) across 68 addresses, and SpaceX holds 8.29K BTC ($560M)… pic.twitter.com/vwoEJ0h0dS

— Arkham (@ArkhamIntel) March 7, 2024

Tesla and SpaceX’s Bitcoin Holdings

“The on-chain fund flows we’ve identified match financial statements from Tesla and SpaceX,” stated Arkham.

“We believe Tesla currently holds 11.51K BTC ($780M) across 68 addresses, and SpaceX holds 8.29K BTC ($560M) across 28 addresses,” said Arkham.

The two spotlighted companies possess 19,794 BTC combined based on Arkham’s report. At the current trading price of $67,210, the total value of their holdings would exceed $1.33 billion.

“Tesla purchased $1.5B of BTC in Jan 2021, and sold BTC on 2 occasions: Sold $272M BTC in Q1 2021; Sold $936M BTC in Q2 2022,” the firm listed.

The announcement also disclosed that from March 24 to May 12, 2021, Tesla permitted the purchase of its vehicles using Bitcoin.

“Our Tesla Intel Exchange Bounty revealed a Tesla car purchase linked to this larger cluster of Tesla holdings,” said Arkham.

Elon Musk Criticizes OpenAI’s Strategy

Elon Musk has recently ignited discussions within the cryptocurrency community through his critique of ChatGPT’s creator OpenAI.

Musk, who played a crucial role in the founding of the AI research company, took to social media on March 6 with a series of memes aimed at the organization, rebranding it as “ClosedAI.”

The mockery came amid Musk’s legal battle against OpenAI CEO Sam Altman, accusing him of breaching the firm’s foundational agreements of being an open source and non-profit establishment.

The crypto community reacted with speculations about the broader implications of Musk’s actions.

Support for Musk’s critique has been particularly strong in the crypto community, especially in light of his efforts to incorporate Grok AI, a chatbot developed by Musk’s own startup xAI, into the X platform.

David Gokhshtein, a notable crypto character, proposed that Musk should consider taking over OpenAI, drawing an analogy to his acquisition of Twitter.