Arkham Tracks $2B In BTC Tied To Musk Firms

What if one of the biggest silent bets on Bitcoin had finally been uncovered? A recent analysis by Arkham Intelligence reveals that Tesla and SpaceX together hold more than $2 billion in BTC, including $1.5 billion in unrealized gains. Until now, only Tesla had disclosed its purchases. SpaceX, on the other hand, had never leaked any information. These revelations shed light on Elon Musk’s crypto strategy, which is much more engaged than it appears.

The Revealed Wallets : Arkham Lifts the Veil on SpaceX’s Hidden Holdings

While the Trump-Musk clash triggered a crypto meltdown , an analysis published by Arkham Intelligence specifies that Tesla and SpaceX now hold more than $2 billion in Bitcoin, making Elon Musk’s ecosystem one of the world’s largest institutional BTC holders.

Tesla, for its part, announced in February 2021 that it had invested $1.5 billion in the crypto. At the time, this decision caused a strong market impact. However, no official information had been communicated by SpaceX regarding any Bitcoin exposure.

This lack of transparency has just been partly lifted by Arkham, which managed to link several blockchain wallets directly to the space company. “SpaceX’s position, on the other hand, remained less visible until Arkham identified the wallets associated with it,” notes the report.

The analysis also reveals that the two companies accumulated their position at an estimated average price of $32,000 per bitcoin, which currently puts them at an unrealized profit of $1.5 billion given current prices. Here are the key points highlighted by Arkham :

• Tesla and SpaceX would together hold more than $2 billion in BTC, according to the identified wallets ;
• The average acquisition price is about $32,000, implying significant capital gains given the current price ;
• Tesla’s investment has been known since 2021, but SpaceX’s was not until the recent analysis ;
• Wallets linked to SpaceX were identified by Arkham through an on-chain analysis method, without any public statement confirming or denying this information.

This revelation by Arkham underscores a crucial point : some companies deliberately choose to remain discreet about their Bitcoin exposure, accumulating quietly without necessarily employing a communication strategy.

This approach contrasts with figures like Michael Saylor, who are more transparent and proactive, but it shows that crypto continues to be integrated into the financial strategies of major firms, sometimes without the market immediately realizing it.

A Discreet but Significant Strategy : Musk Bets on the Long Term

Unlike a more communicative approach, Elon Musk has refrained in recent months from any meaningful comments on Bitcoin. Yet, data revealed by Arkham suggests strong conviction, maintained over time, without public announcement or documented sale operations.

“Musk’s companies have retained their Bitcoin positions and are now recording significant gains,” observes Arkham. This behavior, far from the usual hype, demonstrates a strategy based on institutional holding, meaning holding without intervention, which contrasts with the short speculative cycles often seen among individuals.

Beyond pure performance, the presence of Bitcoin on Tesla and SpaceX balance sheets offers Musk new financial management levers, notably in terms of crypto-backed financing.

As Arkham states: “With Bitcoin on their balance sheets, Tesla and SpaceX have the opportunity to explore crypto-backed financing or hedging strategies.” This kind of flexibility is not accessible via traditional reserves such as cash or Treasury bonds.

Thus, this revelation could help redefine financial transparency standards regarding crypto. As analysis platforms like Arkham become more precise, it will become increasingly difficult for large groups to maintain anonymity around their wallets. SpaceX’s case perfectly illustrates this shift. In the future, this dynamic could encourage other companies to review their communication or adopt a more transparent approach like Strategy .