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Recently, on-chain data analysis platform Arkham announced the launch of Tesla and SpaceX holding data.Tesla-related BTC wallets have an additional 1,789 BTC balances than the 9,720 BTC reported in the last financial report.Then, the X detonated rightDiscussions on whether Chimusk has begun to increase his position in Bitcoin.
Tesla and SpaceX positions
Specifically, Tesla currently holds about 11,510 BTC (valued at approximately US$780 million) in 68 addresses, and SpaceX holds about 8,290 BTC (valued at approximately US$560 million) in 28 addresses.
It is currently confirmed that the on-chain capital flows are consistent with the financial statements of Tesla and SpaceX.Tesla bought $1.5 billion worth of BTC in January 2021 and has two sales records:
1. US$272 million worth of BTC was sold in the first quarter of 2021.
2. US$936 million worth of BTC was sold in the second quarter of 2022.
It can be seen that the book value of Tesla Bitcoin has risen a lot. If calculated based on its purchase cost of US$31,250, its unrealized benefits are currently as high as US$390 million.
SpaceX is an unpublicly listed company and does not need to publish its financial information, so it cannot verify the information it holds in Bitcoin.
Currently, Tesla and Musk have not commented on whether Tesla buys Bitcoin.
But unlike before, on January 16, in a discussion with Cathy Wood about the topic of “ARK 21Shares gets Bitcoin ETF approval” Spaces,Elon Musk commented on Bitcoin as “engineered scarcity”.He is open to using Bitcoin in his X platform, but rarely considers this issue.
Engineering scarcity is a concept that usually creates artificial value and utility through technology, allowing people to store wealth in something that maintains purchasing power for a long time.In the rich world created by robots and artificial intelligence, it is very important because it ensures long-term financial security.
Musk’s attitude changes
It can be said that Musk first talked about Bitcoin publicly in 2014, when he was interviewed by the Wall Street Journal and when asked if he held it, he replied: “I don’t actually have any Bitcoins.””
He also said,heThinking Bitcoin is a “quite smart” technology, but he doubts the security and reliability of Bitcoin, he said: “I don’t know if it will become a long-term currency, or just a short-term oneThe phenomenon, it may be hacked, banned by the government, or replaced by other cryptocurrencies.”
In 2019, Musk’s attitude towards Bitcoin changed, and he began to express his appreciation and admiration for Bitcoin.In an interview with a podcast by ARK, he called Bitcoin a “very excellent” technology.“Bookbooks are disappearing, and cryptocurrencies are a better way to transfer value than pieces of paper, that’s for sure,” he said.
And 2021 is the most complex and influential year for Musk’s attitude towards Bitcoin.
During this year, Musk’s words and deeds can cause huge fluctuations in Bitcoin. He is both a supporter of Bitcoin and a critic of Bitcoin.
In January 2021, Musk added the tag “#bitcoin” to his personal profile on Twitter, triggering a wave of rise in Bitcoin.
In February 2021, Musk announced that Tesla had purchased Bitcoin with $1.5 billion in cash and plans to accept Bitcoin as a payment method for cars in the future. This news has caused the price of Bitcoin to soar to a new high.
However, Musk’s attitude took a dramatic reversal in May 2021.Musk suddenly announced that Tesla has suspended its plans to use Bitcoin to buy cars due to concerns that mining and trading of Bitcoin will lead to large consumption of fossil fuels, which will have a negative impact on the environment.
Musk also had heated arguments with some Bitcoin advocates and developers, and was even accused of being “betrayer” and “manipulator”.
In 2024, after the Securities and Exchange Commission approved the Bitcoin ETF, Musk said that I am open to using Bitcoin ETFs.
Written at the end
It can be said that with Musk’s increase in positions this time, Tesla’s book value of Bitcoin has increased significantly., and SpaceX, as an unpublicly listed company, its Bitcoin holdings are still unclear.
This shows the change in Musk’s attitude towards Bitcoin, from initial suspicion to later appreciation and admiration, as well as the impact of his series of remarks in 2021 on the Bitcoin market.In addition, Musk is open to Bitcoin ETFs, demonstrating his interest and confidence in this field.
As the Bitcoin and cryptocurrency markets continue to evolve, Tesla and SpaceX will continue to play an important role in this area.Tesla may continue to explore the possibility of Bitcoin as a payment method, while SpaceX will continue to drive the development of satellite Internet and starships.
