Elon Musk’s Bitcoin Holdings Surge to $2 Billion as Asset Crosses $100,000

Elon Musk’s Bitcoin Holdings Surge to $2 Billion as Asset Crosses $100,000
ôîòî ïîêàçàíî ñ : zycrypto.com

2024-12-11 20:47

Elon Musk’s cryptocurrency investments have soared to staggering new heights, with the combined Bitcoin holdings of Tesla and SpaceX reaching an estimated value of $2 billion.

This milestone follows Bitcoin’s historic surge past the much-coveted $100,000 price, peaking at $103,900 on December 5.

According to data from Arkham Intelligence, Tesla, the electric vehicle giant, currently holds 11,509 BTC valued at approximately $1.17 billion, while SpaceX owns 8,285 BTC, worth $842 million. The companies acquired their Bitcoin at an average price of $34,980 per BTC, meaning their combined unrealized gains amount to $1.3 billion, a 186% return on investment.

This surge marks a significant leap from last month, when Tesla’s Bitcoin holdings first surpassed $1 billion. According to Bitcoin Treasuries data, the latest price rally solidifies Tesla’s position as the fourth-largest corporate Bitcoin holder.

Elon Musk’s bold Bitcoin strategy has been a rollercoaster ride since Tesla’s initial $1.5 billion investment in early 2021. While Musk initially described the move as “quite risky,” the gamble paid off handsomely. Although Tesla liquidated 75% of its holdings during the crypto winter of 2022, the company retained a core position, now yielding extraordinary returns.

The combined holdings of Tesla and SpaceX now rival those of governments like El Salvador, whose Bitcoin holdings currently sit at 5,957 BTC, valued at around $593 million. Notably, the Central American country, which continues to buy 1 BTC per day, is now sitting on a substantial profit of over $300 million from its Bitcoin investments, as per a figure recently shared by President Nayib Bukele on X. 

Bitcoin’s ascent past $100,000 marks a transformative moment for the cryptocurrency market. The digital asset, long touted as “digital gold,” has now achieved unparalleled mainstream acceptance. Analysts attribute the rally to a combination of institutional adoption, dwindling supply, and growing geopolitical interest in Bitcoin as a hedge against traditional currencies.

MicroStrategy, the largest corporate holder of Bitcoin, also benefits from this rally. The firm’s 402,100 BTC holdings are now valued at over $40 billion, yielding unrealized profits exceeding $16 billion.

Beyond Musk’s companies, other players have seen mixed fortunes in the Bitcoin market. Governments like Germany and the United States have faced criticism for missing out on billions by prematurely selling confiscated Bitcoin.

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