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Tesla Made $100 Million From Bitcoin Without Adding a Single BTC

Tesla’s Bitcoin Holdings Approach $1 Billion After BTC’s 14% Weekly Rise.

According to Arkham data, Tesla’s Bitcoin position is approaching a market value of $1 billion after BTC recorded a sharp increase over the past week.

 

The electric vehicle manufacturer holds 11,509 BTC, currently valued at approximately $994.90 million, based on the figures provided. The value of the position increased by about $122.62 million in one week as Bitcoin rose roughly 14%.

At $994.90 million, Tesla’s Bitcoin holdings are approximately $5.1 million short of the $1 billion threshold. The weekly increase reflects the higher market price of Bitcoin rather than a new purchase or realized profit.

Tesla’s Bitcoin Holdings Date Back to 2021

Tesla made its major entry into Bitcoin in early 2021, when the company disclosed a $1.5 billion investment in the cryptocurrency. It also briefly allowed customers to purchase vehicles using Bitcoin before ending the payment option later that year.

Tesla subsequently reduced its position. The company’s largest disposal occurred in 2022, when it converted a substantial portion of its Bitcoin holdings into traditional currency and reported proceeds of approximately $936 million from the sale.

Following those reductions, Tesla retained a smaller Bitcoin treasury. Its current balance stands at 11,509 BTC, and the supplied data indicates that the company has maintained this position for roughly four years.

Bitcoin Price Changes Move Tesla’s Holdings by Millions

The size of Tesla’s remaining position means changes in Bitcoin’s market price can produce substantial changes in its dollar valuation.

With 11,509 BTC, every $1,000 movement in Bitcoin changes the market value of the position by approximately $11.51 million. A $10,000 increase would correspond to roughly $115.09 million in additional market value, assuming the number of Bitcoin held remains unchanged.

The latest 14% weekly Bitcoin increase has consequently pushed Tesla’s position close to ten figures. Based on the supplied valuation, the company’s 11,509 BTC are now worth about $994.90 million, compared with approximately $872.28 million a week earlier.

The roughly $122.62 million difference is an increase in the market value of the holdings, rather than cash generated or realized profit from selling Bitcoin.

Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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