Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Tesla's Bitcoin holdings hit $1 billion amid bull run

Tesla's Bitcoin holdings hit $1 billion amid bull run

Cryptobriefing2024/11/13 00:44
By:Cryptobriefing

Key Takeaways

  • Tesla's Bitcoin holdings are valued at $1 billion amid a crypto market surge.
  • The company's portfolio growth is due to rising prices, with no new acquisitions.

Tesla’s Bitcoin holdings have surpassed $1 billion in value amid the recent crypto market rally, according to data from Arkham Intelligence.

The electric vehicle manufacturer currently holds 11,509 Bitcoin on the Coinbase Prime platform, valued at approximately $1 billion at current prices.

The company’s Bitcoin portfolio has grown by $96.7 million in recent days, pushing it back into unrealized profit territory.

Tesla initially invested $1.5 billion in Bitcoin during the first quarter of 2021, though it has made several sales since then that previously pushed the portfolio below the $1 billion mark.

The Q3 earnings report confirmed that Tesla has maintained its Bitcoin holdings, which have benefited from Bitcoin’s recent surge to $89K, marking a 9.5% increase over the past 24 hours after reaching multiple all-time highs.

The company moved its entire Bitcoin holdings last month in what analysts consider a wallet rotation rather than preparation for sales.

Arkham Intelligence reported that Tesla’s Bitcoin had been dormant for nearly two years until October 15, when approximately $765 million worth of Bitcoin was transferred to seven new wallets believed to remain under Tesla’s control.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!