It has emerged that Tesla, a major US electric vehicle manufacturer, and SpaceX, an aerospace company, may have resumed purchasing Bitcoin (BTC). This was revealed by tracking by on-chain information tool Arkham.
According to Arkham, Tesla holds 11,510 BTC in 68 addresses. In financial statements released at the end of January, it was stated that Tesla held 9,720 BTC, so this is an increase of 1,780 BTC from that amount. SpaceX also holds 8,285 BTC in 28 addresses.
Tesla and SpaceX are known to be led by Elon Musk, who supports Bitcoin. It is possible that they decided to resume purchases in light of positive factors such as the Bitcoin spot ETF and the upcoming Bitcoin halving.
Purchased Bitcoin in 2021
Tesla purchased Bitcoin worth $1.5 billion at the time in January 2021. Tesla then introduced Bitcoin payments as a way to purchase Tesla products, but expressed concerns about the large amount of electricity used for mining and discontinued the service. Since the discontinuation of Bitcoin payments, there have been no positive trends, and in 2022, Tesla sold 29,160 BTC.
It remains unclear whether Tesla will resume Bitcoin payments or incorporate them into its own services, but it is possible that the company will continue to purchase more Bitcoin in the future.
Musk is also the owner of X (formerly Twitter).
X aims to become an all-purpose app, and Musk has expressed his intention to strengthen financial services. Although there has already been talk of providing payment services, he has indicated that he is not considering supporting crypto assets (virtual currencies) for the time being.
However, with Tesla and SpaceX resuming Bitcoin purchases, it can be said that there is a possibility that X will also make some kind of move in the future.
Reference: Arcam Post
Image: Shutterstock
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