Elon Musk’s two prominent companies, Tesla and SpaceX, have witnessed their combined Bitcoin holdings reach a staggering value of $2 billion as Bitcoin edges closer to the nearly $100,000 milestone.
According to data sourced from Arkham Intelligence, Tesla currently owns approximately 11,509 BTC, which is valued at around $1.17 billion USD. Meanwhile, SpaceX holds about 8,285 BTC, with an approximate worth of $842 million USD.
These bitcoins were acquired at an average price of $34,980 per BTC. Thanks to the rise in Bitcoin’s price to around $100,000, the holdings have yielded a significant gain of approximately $1.3 billion, representing a remarkable 186% increase on their initial investment.
Back in 2021, Tesla disclosed that its initial investment in Bitcoin amounted to $1.5 billion. The company had briefly allowed Bitcoin as a payment option for its vehicles, though it later suspended this due to environmental concerns.
Recently, Tesla made a series of quick transactions and transferred its Bitcoin holdings worth $760 million from its public wallet. Nevertheless, it’s likely that the company still retains Bitcoin holdings worth $780 million.
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