Amidst the volatile world of cryptocurrency, Tesla stands firm in its commitment to Bitcoin. The company’s latest financial report reveals a whopping $184 million in digital assets, solidifying its position as a major player in the market.
With a portfolio of 11,509 bitcoins, valued at an impressive $745 million, Tesla’s bold move has caught the attention of the cryptocurrency world, with experts at Arkham closely monitoring their every move.
Tesla’s Cryptocurrency Strategy
Revolutionizing the world of finance, Tesla has made a bold move by pouring $1.5 billion into the cryptocurrency giant, Bitcoin. However, amidst the chaos of the pandemic, the company was forced to sell 75% of its Bitcoin stash in China. But fear not, as the enigmatic Elon Musk has hinted at the possibility of Tesla diving back into the Bitcoin market once again.
Other Investments and Musk’s View on Cryptocurrencies
Amidst the buzz surrounding Tesla, it seems that Musk’s other brainchild, SpaceX, has also jumped on the Bitcoin bandwagon. In fact, Musk himself holds a sizable amount of Bitcoin, as well as some ether and a stash of dogecoins.
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Despite his crypto investments, Musk claims he doesn’t spend much time pondering over digital currencies. In fact, he’s made it clear that his companies have no plans of creating their own crypto tokens.
Arkham’s groundbreaking on-chain research has revealed that the tech giant holds a staggering 11,509 BTC, scattered across 68 mysterious addresses. And with the current bitcoin price soaring at $64,735, Tesla’s crypto stash is valued at a jaw-dropping $745 million.