Data from Arkham Intelligence reveals Tesla's apparent accumulation of Bitcoin, with holdings now at 11,509 BTC, up from 9,720 BTC. This surge, amounting to 1,789 BTC (approximately $120.4 million), suggests a renewed interest in the cryptocurrency.
Tesla Alters Policy: Halts Bitcoin Payments and Expresses Environmental Concerns
After Tesla's initial $1.5 billion Bitcoin investment in early 2021, followed by a brief acceptance of BTC payments, the company reversed its stance due to environmental concerns linked to BTC mining. This move also halted BTC payments acceptance.
Tesla has recently increased its holdings of Bitcoin
Recent increases in Tesla's Bitcoin holdings have spurred speculation. Some suggest the company might have resumed purchasing Bitcoin, while others speculate it could be an accounting discrepancy. Microblogging discussions question the true nature of Tesla's recent activity.
SpaceX Joins Bitcoin Holdings Following Elon Musk's Influence by Michael Saylor's Advocacy
SpaceX, Elon Musk's space exploration firm, follows suit by holding Bitcoin. Michael Saylor's advocacy for Bitcoin influenced Musk's decision, with MicroStrategy itself holding a substantial 193,000 BTC, positioning it as the world's largest institutional Bitcoin holder.