Tesla and SpaceX’s Bitcoin holdings unveiled by Arkham Intelligence

Arkham Intelligence has identified the on-chain Bitcoin addresses of Elon Musk‘s companies, Tesla and SpaceX.

In a Mar. 7 social media post on X (formerly Twitter), Arkham disclosed that Tesla possesses 11,510 BTC, valued at $780 million, spread across 68 addresses. Additionally, SpaceX holds 8,290 BTC, equivalent to $560 million, distributed across 28 addresses.

Arkham stated that the on-chain fund movements align with the financial declarations of both companies. It highlighted Tesla’s purchase of $1.5 billion worth of BTC in January 2021, along with two instances of BTC sales: $272 million in the first quarter of 2021 and $936 million in the second quarter of 2022.

“Tesla allowed purchases of Teslas in Bitcoin between March 24 and May 12 2021. Our Tesla Intel Exchange Bounty revealed a Tesla car purchase linked to this larger cluster of Tesla holdings,” the blockchain analytical firm added.

Over the past months, Arkham has pinpointed the on-chain addresses of various spot BTC exchange-traded funds (ETFs) operating within the United States. Before this, the firm successfully identified addresses linked to significant entities such as the Grayscale Bitcoin Trust (GBTC), MicroStrategy, and addresses associated with the popular crypto trading platform Robinhood.

Tesla’s BTC

Tesla entered the crypto space with its notable acquisition of $1.5 billion of Bitcoin in 2021. While the company has since divested some of these holdings, it still maintains a substantial stake.

According to data from Bitcoin Treasuries, Tesla presently possesses over 9,720 BTC. This places Tesla as the third-largest public holder of Bitcoin, trailing behind BTC development company MicroStrategy and BTC miner Marathon.

Interestingly, Tesla’s public disclosures have not yet indicated any alterations to its Bitcoin holdings. Even the latest earnings report, released in January, does not reference the cryptocurrency.

On a related note, the transparency of SpaceX’s Bitcoin holdings is somewhat obscured as the company is not publicly traded. However, reports suggest that SpaceX adjusted its Bitcoin holdings by $373 million between 2021 and 2022, which includes selling off a portion of the asset.