Arkham’s findings suggest that Tesla’s Bitcoin holdings have exceeded the previously reported figure. Arkham reported that Tesla held $780 million worth of BTC in March. The data also shows SpaceX possesses a sizable Bitcoin treasure chest valued at approximately $560 million.
Tesla’s foray into Bitcoin began in February 2021 when the firm bought $1.5 billion. The firm said the Bitcoin purchase was to help further diversify and maximize returns on its cash. Tesla also said it will start accepting payments in Bitcoin in exchange for its products, subject to applicable laws.
Elon Musk also revealed SpaceX’s Bitcoin holdings in 2021 at “The B Word” online conference. “I do own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin,” Musk stated.
At press time, the BTC price was $65,765, up 0.36% in the past day and 4.4% in the past week. However, the 24-hour trading volume registered a tempered outlook, experiencing a 33% decline.
Nevertheless, Bitcoin is now on course to secure its best September despite expectations of a bad month.
This article was originally published on U.Today
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