Tesla’s Bitcoin (BTC) holdings have sparked renewed interest in the crypto community. Reports indicate that the company’s wallet now contains approximately 11,500 BTC, surpassing the previously reported figure by over 1,700.
Arkham, a crypto data analytic platform, has integrated Tesla’s Bitcoin wallet tracking feature into its dashboard. The wallet currently displays a balance of 11,509 BTC, marking an increase of about 1,789 BTC from the last reported balance of 9,720 BTC.
A timeline highlights Tesla’s journey with Bitcoin, from its initial $1.5 billion investment in February 2021 to subsequent sales:
Elon Musk’s stance on Bitcoin has oscillated between optimism and skepticism. Despite initially expressing enthusiasm for BTC, including plans for on-chain wallet storage, Musk later reversed course, citing environmental concerns about Bitcoin mining.
Speculation abounds regarding the recent change in Tesla’s Bitcoin figures. Some users speculate on whether Tesla has resumed purchasing Bitcoin or if the adjustment stems from an accounting error. Others suggest the possibility of Tesla reporting newly acquired BTC in its next financial call, prompting curiosity among users on X.
Despite the speculation, Tesla and Elon Musk have refrained from commenting on whether the company is actively acquiring BTC.
Beyond Tesla, Elon Musk’s other ventures, including SpaceX, have also held Bitcoin on their balance sheets. The decision to add Bitcoin was influenced by MicroStrategy CEO Michael Saylor, who advocated for its inclusion. Unlike Tesla, MicroStrategy held onto its BTC, resulting in substantial profits exceeding 100%.
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