Tesla’s Bitcoin stash worth $1 billon

Tesla continues to profit from its bets on Bitcoin. According to Arkham Intelligence data insights, the company’s Bitcoin holdings have unexpectedly regained the $1 billion valuation milestone.  

This increase in the portfolio helps offset the company’s recent selloffs. Arkham Intelligence data indicates that Tesla holds 11,509 Bitcoin units on the Coinbase Prime platform.  The Bitcoin stash is worth precisely $1 billion with Bitcoin’s prevailing price at $87K

Tesla made a few sales in the following years causing the portfolio to fall below the $1 billion benchmark after buying $1.5 billion worth of Bitcoin in Q1 2021. 

The electric car marker has not sold its remaining Bitcoin holdings, a wise decision because the company benefits from the current bull market surge. 

Institutional firms like MicroStrategy are purchasing more Bitcoin these days. It’s unclear if Tesla will take further action to buy more shares in light of this trend. Investors are increasing exposure through spot Bitcoin ETF products rather than purchasing BTC directly from the spot market. 

Asset managers like BlackRock have also amassed a record number of Bitcoin ETFs. Bernstein, an American investment firm, encouraged investors to invest in Bitcoin amid a likely price spike.

President-elect Donald Trump has promised to improve the regulatory environment and even make it more welcoming to cryptocurrency companies, which have long suffered from unclear regulations. Bitcoin has long been regarded as a safe asset in Washington because it is exempt from securities laws.