Arkham Intelligence says Tesla’s Bitcoin holdings are valued at over $1.25 billion. With these holdings, the Elon Musk-led automaker and Musk himself have firmly established their status as committed HODLers of the leading cryptocurrency.
In an X post, Arkham Intelligence revealed that the electric car manufacturer has $1,257,345,294.56 worth of Bitcoin, roughly 11900 BTC.
Tesla now holds over $1.25 Billion of BTC.
Elon Musk is bullish on Bitcoin. pic.twitter.com/rNbzOP1QPJ
— Arkham (@arkham) May 23, 2025
Tesla sold part of its BTC holdings in 2022
Tesla first announced its Bitcoin investment in Q1 2021. In a filing with the Securities and Exchange Commission on February 8, 2021, the automotive company disclosed that it had invested around $1.5 billion to purchase 43,200 BTC and intended to incorporate Bitcoin into its payment system.
Shortly after, the firm began accepting BTC payments for vehicle purchases before halting the option in May 2021. However, the suspension led to a more than 10% drop in Bitcoin’s value and Tesla’s stock price decline.
Musk claimed they were obliged to halt BTC payments over concerns about the increasing reliance on fossil fuels, particularly coal, for Bitcoin mining and transactions. He argued that crypto investments have great potential; they shouldn’t come at the expense of the environment.
However, skeptics suggested that the billionaire’s decision was just another attempt to influence the crypto market.
In Q2 2022, the car manufacturing firm also sold about 75% of its Bitcoin holdings, valued at $936 million, remaining with only 9,720 BTC. Nonetheless, Musk clarified that their decision to sell their holdings had nothing to do with the asset’s market performance but rather the firm’s need for cash.
Since then, Tesla has added more BTC to its portfolio, holding roughly 11,900 BTC worth $1.25 billion.
Meanwhile, the crypto community began speculating that Musk’s X Money will incorporate Bitcoin after Tesla’s Q4 2024 net income increased to $600 million due to crypto.
Metaplanet and Strategy are still growing their BTC holdings
Multiple firms are also ramping up their Bitcoin holdings. For instance, Strategy holds 576,230 BTC, with its most recent purchase on May 19, when it acquired 7,390 BTC for $764.9 million.
Metaplanet is on pace to reach its target of holding 10,000 BTC, being only a little over 2,000 coins short. So far, the firm has 7,800 BTC. The firm’s stock, 3350.T, also soared 15% after the company recently purchased 1,004 BTC.
Aside from corporations investing in BTC, there is growing interest in the US among certain states in integrating Bitcoin reserves, especially after Donald Trump took office. More than 25 states have proposed bills in favor of Bitcoin reserve legislation, with Texas and New Hampshire among the first to pass their bills.
However, Arizona’s Governor, Katie Hobbs, recently rejected two crypto reserve bills after Florida dropped discussions on their bills.
Nevertheless, there are still 13 active crypto bills at the federal level, which, if passed, could promote Bitcoin integration and establish a Bitcoin reserve.
President Donald Trump named five cryptocurrencies for his proposed strategic reserve at the start of the month. His list included Bitcoin, Ethereum, XRP, Solana, and Cardano. His announcement did stir the crypto market, with Caradona surging by over 70%, Solana by 20%, and XRP by 30%. Bitcoin and Ethereum also saw a rise in market value, jumping by over 10%.
Trump has consistently insisted that a digital asset reserve would elevate the country, reduce inflation, and build the crypto industry. In one of his Truth Social posts, he commented, “I will make sure the US is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”
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