Arkham Intelligence has identified the on-chain Bitcoin addresses of Elon Musk’s companies Tesla and SpaceX.
In a March 7 social media post on Furthermore, SpaceX owns 8,290 BTC, equivalent to $560 million, spread across 28 addresses.
Arkham stated that the fund movements in the chain align with the financial statements of both companies. It highlighted Tesla’s purchase of $1.5 billion in BTC in January 2021, along with two examples of BTC sales: $272 million in the first quarter of 2021 and $936 million in the second quarter of 2022.
“Tesla allowed the purchase of Teslas in Bitcoin between March 24 and May 12, 2021. Our Tesla Intel Exchange Bounty revealed a Tesla car purchase tied to this larger cluster of Tesla ownership,” the blockchain analytics firm said. added.
In recent months, Arkham has located the on-chain addresses of several BTC-listed exchange funds (ETFs) operating in the United States. Previously, the company successfully identified addresses associated with major 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 worth of Bitcoin in 2021. Although the company has since divested some of these holdings, it still has a significant stake.
According to facts of Bitcoin Treasuries, Tesla currently owns over 9,720 BTC. This places Tesla as the third largest public holder of Bitcoin, behind BTC development company MicroStrategy and BTC miner Marathon.
Interestingly, Tesla’s public disclosures have not yet indicated any changes to its Bitcoin holdings. Even the latest earnings report, released in January, makes no reference to the cryptocurrency.
Relatedly, the transparency of SpaceX’s Bitcoin holdings is somewhat unclear, as the company is not publicly traded. However, reports indicate that SpaceX adjusted its Bitcoin holdings by $373 million between 2021 and 2022, including selling some of its holdings.