News View Non-AMP

Did Elon Musk Buy More Bitcoins? Here’s What Data Reveals

Published by
Qadir AK

Tesla’s Bitcoin wallet shows an increase from 9,720 BTC as reported in its last earnings report, to 11,509 BTC.

Reports from Arkham Intelligence suggest that Tesla Incorporation has acquired 1,000 Bitcoins since their last acquisition of BTC in 2021. However, Musk and Tesla have yet to comment on these speculations, as per Arkham Intelligence’s report

Previously, Tesla surged its Bitcoin holdings in January 2021 with a purchase of $1.5 billion. Tesla reportedly held 9,720 BTC in 2023. 

Tesla’s previous sale of BTC coincided with Bitcoin’s market movements

Looking into the current situation, the crypto community is curious about Musk’s renewed interest in Bitcoin. Additionally, Elon Musk’s involvement in cryptocurrency extends to SpaceX, holding Bitcoin on its balance sheet.

Tesla’s Stock Decline Amidst Chinese EV Market Challenges

While in the U.S. we are seeing Tesla and SpaceX increasing their Bitcoin/crypto holdings, in the absolute east, Tesla is facing challenges.

In the Chinese EV market, Tesla has witnessed a more than 7% drop in its stock. Weak shipments from its Shanghai factory, with a 19% YoY decline in deliveries, indicate intensified competition and disruptions tied to the Lunar New Year holidays. 

Also Read: Do Kwon Faces Renewed Extradition Push as South Korea Seeks Interpol’s Aid

Bitcoin Price Fluctuations

Ever since Nov 2021, Bitcoin has once again reached its new all-time-high breaching the $69000 mark slightly. The Bitcoin price surge this week is believed to be driven by capital inflows ever since the ETF approvals, and its correlation with technology stocks. 

CoinShares data indicates consistent capital inflows into Bitcoin-linked investment products. The imminent halving in Bitcoin production adds anticipation to market dynamics.

Tesla’s Bitcoin holdings and market activities show Musk showing a renewed interest in accumulating Bitcoin after it seems his much-loved dogecoin has failed to reach $1. All these developments taking place together represent the interconnectedness of Tesla’s stock performance, Bitcoin fluctuations, and broader market trends.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Cardano Price Prediction, News And Updates: 1000% Surge Soon?

Cardano has emerged as one of the best-performing cryptos this year, initially rallying above $1.…

April 22, 2025

Why SUI, Solana’s Biggest Rival, Could Skyrocket to $10 – Here’s Why!

SUI, a blockchain project that many now call Solana’s biggest rival, is suddenly back in…

April 22, 2025

National Trump Bitcoin Reserve to Launch in 2025? Kalshi Predicts a 50% Chance

On March 6, 2025, U.S. President signed an Executive Order establishing a Bitcoin Strategic Reserve…

April 22, 2025

Ripple’s Massive $4M Gift to Trump Inauguration Draws Scrutiny

The start to President Trump's second term in the US has been quite rocky to…

April 22, 2025

100X MEMEBOX Launches to Redefine Wealth Building in Crypto

100X has officially launched one of its most powerful and forward-thinking ecosystem products to date—100X…

April 22, 2025

WazirX News: Relaunch Soon? Key Court Hearing Nears After $234M Hack

India’s leading crypto exchange WazirX is gearing up for a comeback after being rocked by…

April 22, 2025