SpaceX's Bitcoin assets surpass $1 billion following Bitcoin's recent all-time high; here's the breakdown!
In the world of cryptocurrency, two major players have made their mark: SpaceX and Tesla. Both companies have dipped their toes into the Bitcoin market, but their strategies and outcomes have varied significantly.
SpaceX, the aerospace manufacturer and space transportation company founded by Elon Musk, entered the crypto arena on December 31, 2020. Since then, it has amassed approximately 8,285 Bitcoins (BTC), currently valued at around $1 billion. This steady Bitcoin position has been maintained over nearly five years[1][2].
SpaceX's Bitcoin holdings have grown in tandem with the cryptocurrency's price. The price of Bitcoin hit a fresh all-time high on 13 August, contributing to SpaceX's increased Bitcoin holdings. This surge also coincided with a notable shift in network dynamics[1][5]. The company's windfall from Bitcoin holdings was evident when its Bitcoin holdings topped $1 billion after Tesla posted crypto profits of over $284 million[2].
On the other hand, Tesla, another of Musk's companies, took a different approach. Tesla purchased $1.5 billion worth of Bitcoin in early 2021 but sold about 75% of these holdings by mid-2022, reportedly at a loss. This sale was attributed to concerns about Bitcoin affecting Tesla’s profitability[3][4]. As of February 2024, Tesla’s remaining Bitcoin holdings were estimated at 9,720 BTC, making it one of the largest public corporate Bitcoin holders.
The recent surge in Bitcoin's price has boosted institutional portfolios like SpaceX's, but it hasn't been all smooth sailing for Tesla. The company experienced a $125 million loss from its Bitcoin holdings in the previous quarter, a significant turnaround from the profits it made in Q2 2025[6].
The price of Bitcoin fell by over 3% to trade under $119,000 at press time after the rally, reflecting the volatility inherent in the cryptocurrency market[7]. Despite this, short-term traders are eager to lock in gains, while whales and long-term holders like SpaceX are consistently accumulating Bitcoin, indicating growing conviction in BTC's future trajectory[8].
In the broader context, there is ongoing speculation about who will replace Jerome Powell as Federal Reserve Chair, which could potentially impact the macroeconomic landscape and Bitcoin's future[9].
In summary, SpaceX's Bitcoin holdings have grown to a stable $1 billion position since 2020, while Tesla’s Bitcoin exposure has fluctuated, with the majority sold at a loss, reducing the impact on Tesla's earnings from BTC investments[1][3][4]. The contrasting strategies of these two companies serve as a testament to the varied approaches companies can take when investing in Bitcoin.
| Company | BTC Holdings | Timeframe of Acquisition | Notes on Earnings & Usage | |----------|--------------------|---------------------------------|-----------------------------------------------------| | SpaceX | ~8,285 BTC (~$1B) | Dec 2020 - Jun 2022 | Holdings mainly retained, strategic investment | | Tesla | Initially $1.5B BTC | Early 2021; largely sold by 2022 | Sold ~75% BTC at a loss affecting earnings; 9,720 BTC remained as of early 2024 |
[1] Arkham Intelligence [2] CoinDesk [3] Tesla Q2 2021 Financial Report [4] Tesla Q2 2022 Financial Report [5] Glassnode [6] CoinDesk [7] CoinMarketCap [8] Glassnode [9] Reuters
- Despite the volatility in the crypto market, SpaceX has maintained a steady Bitcoin position, currently valued at around $1 billion, which they've been building since December 2020.
- In contrast, Tesla initially purchased $1.5 billion worth of Bitcoin in early 2021, however, they sold about 75% of their holdings by mid-2022, reportedly at a loss.
- As of early 2024, Tesla’s remaining Bitcoin holdings were estimated at 9,720 BTC, making it one of the largest public corporate Bitcoin holders.
- SpaceX's growth in Bitcoin holdings has been in line with the cryptocurrency's price increase, whereas Tesla's profits from Bitcoin investments have seen significant changes, from making over $284 million in Q2 2021 to incurring a loss of $125 million in the previous quarter.
