Elon Musk’s two major companies have seen their Bitcoin holdings reach a combined value of $2 billion as Bitcoin’s price approaches the near $100,000 milestone.
As per the data from Arkham Intelligence, Tesla possesses approximately 11,509 BTC, valued at around $1.17 billion USD, while SpaceX holds about 8,285 BTC, worth approximately $842 million USD.
These bitcoins were purchased at an average of $34,980 per BTC. The price of bitcoin had risen to about $100, as a result, the holding has generated a gain of about $1.3 billion, a 186% rise in their initial investment.
In 2021, Tesla announced that its initial investment in Bitcoin was $1.5 billion. The company briefly accepted Bitcoin as payment for its vehicles before suspending the option due to environmental concerns.
Tesla recently transferred its Bitcoin holdings, worth $760 million, from its public wallet in a sequence of quick transactions. However, the company still likely holds $780 million in Bitcoin.
