News - MicroStrategy role model: is Tesla buying Bitcoin again?

By Luc Vesters

MicroStrategy role model: is Tesla buying Bitcoin again?

From data from the blockchain analysis platform Arkham Intelligence shows that the automaker owns 11,509 BTC at the time of writing. That is 1,789 BTC more than an extrapolation of the balance based on the data in the latest quarterly report.

The Elon Musk-led company made its first Bitcoin purchase in February 2021. Tesla invested a total of $1.5 billion in the cryptocurrency, but sold 75 percent of its holdings in the second quarter of 2022.

The balance sheet has not changed since 2023: Tesla held 9,720 BTC at a cost of 184 million, according to the last quarterly report on Dec. 31, 2023.

Users on X (formerly Twitter) are now speculating about the inconsistency in the Arkham analysis. The most likely cause is an error in the extrapolation of holdings, according to one discussion. After all, the quarterly report reveals no concrete information about BTC holdings.

But rumors are also fueled: a message from Elon Musk to MicroStrategy founder Michael Saylor from 2020, in which the automaker seeks advice from the perma-bull - on Bitcoin transactions.

A definitive answer to the question of further Bitcoin purchases by Tesla probably won't come until the next quarterly report. After all, the publicly traded company must always publish changes to its (BTC) balance sheet at the end of the quarter.

It remains to be seen whether Musk will follow MicroStrategy's lead with Tesla. Saylor's bet on the price of Bitcoin seems to be paying off: thanks to regular purchases, the software company has made more than $4 billion in profits on its portfolio.

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