Tesla's Bitcoin holdings have climbed to approximately $994.9 million, just $5.1 million short of the $1 billion milestone, after Bitcoin's recent rally pushed prices above $86,000, according
Tesla's Bitcoin holdings have climbed to approximately $994.9 million, just $5.1 million short of the $1 billion milestone, after Bitcoin's recent rally pushed prices above $86,000, according to onchain data from Arkham Intelligence.
Tesla is an electric vehicle and clean energy company led by Elon Musk, who has publicly held Bitcoin since at least 2021. The company holds 11,509 BTC across 584 onchain addresses, Arkham data shows.
The value of those holdings rose roughly $122.62 million in a single week as Bitcoin surged approximately 14%, the data shows.
The gains are entirely unrealized, meaning Tesla has not sold any Bitcoin or locked in any profit. The holdings have simply appreciated in value as Bitcoin's price climbed.
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Tesla first bought Bitcoin in February 2021, purchasing 43,200 BTC. The company sold 10% of that position in Q1 2021 and roughly 75% of its remaining holdings in Q2 2022.
Source: Arkham data
Source: Arkham data
Coinbase is listed as the primary counterparty on Tesla's onchain activity, with 273 transactions totaling $2.08 billion flowing through the exchange.
What makes the near-billion-dollar mark notable is that Tesla reached it passively. Tesla has not disclosed any recent Bitcoin purchases or sales. The appreciation is entirely a function of Bitcoin's price movement, not active trading or additional purchases.
At Bitcoin's price of $86,702 in the Arkham snapshot, the holdings sat at $997.88 million. Bitcoin was trading at approximately $84,197 at the time of writing, which would put the value slightly lower at around $969 million, still within striking distance if Bitcoin reclaims recent highs.
Related: Analyst who predicted 2021 crash admits he was wrong about Bitcoin
