Another winner from BTC's rise: Tesla
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Another winner from BTC's rise: Tesla
Tesla was a pioneer in making large-scale investments in BTC.
Navigating Web3 tides with focused insightsSource: cointribune
Compiled by: Blockchain Knight
Trump's support for crypto assets and his firm opposition to BTC sales are evident, yet close ally Musk is now attempting to shift his stance on BTC.
As BTC prices surge, Tesla’s holdings have surpassed $1 billion, leaving the manufacturer sitting on a substantial digital fortune.
Yet questions remain: How will Musk manage this volatile windfall?
Tesla was a pioneer in making large-scale investments in BTC, and today that decision is paying off.
Tesla holds 11,509 BTC in its Coinbase Prime account. Thanks to the recent surge in crypto assets, the value of these BTC holdings has now crossed the $1 billion threshold.
Since its initial $1.5 billion investment in 2021, Tesla has vacillated between selling and holding.
Now, it appears the hold strategy was correct.
Recent BTC price increases—reaching $89,000—have boosted the valuation of these assets by nearly $96.7 million within just a few days.
Here are some key figures:
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$1 billion: Current value of Tesla’s BTC holdings
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11,509 BTC: Amount held by the company
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9.5%: Increase recorded within 24 hours
This unexpected windfall has brought Tesla back into profitability, but recent fund movements to unknown wallets have raised questions. Is Tesla preparing for a sale, or are these merely precautionary measures? Opinions vary.
Musk’s next move remains shrouded in mystery.
Musk previously sold part of Tesla’s BTC holdings in 2022, yet surprisingly retained 75% of the BTC while also setting aside a portion “for future use.”
His alignment with Trump seems to reinforce his image as an active crypto player.
However, Musk has revealed nothing about the potential resale of 'dormant BTC assets' recently reactivated last month.
On October 15, another $260 million worth of BTC was transferred, bringing the total transferred amount to $760 million in BTC.
The rise of BTC is tempting, but caution remains paramount for Tesla. Musk appears torn between capitalizing on the current rally and waiting for new opportunities.
With 2025 approaching, pro-crypto Trump is poised to enter the White House, making further increases in BTC value highly likely, giving Musk even more reason to wait.
It's well known that the Trump-Musk duo has proven to be a productive alliance for billionaire empires; his wealth has grown alongside Tesla stock (up 15% so far). The Republican momentum has already delivered an "extra" $20 billion in value for Tesla.
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