This morning, rumors circulated of a surprise bitcoin (BTC) aquire by Elon Musk’s Tesla. Citing a Securities and Exchange Price (SEC) submitting, social media users screenshotted supposed proof that Tesla had purchased BTC within the fourth quarter of 2024 and elevated its stack to 11,509 BTC.
Then all over again, the submitting doesn’t impress any original purchases. It’s been classic recordsdata that Tesla has owned on the very least 11,509 BTC finally of 2024 and as early as the distinguished quarter of 2023.
Tesla has moved its BTC to a model of original wallets, in conjunction with an October 2024 transfer to high custody. Then all over again, its holdings haven’t elevated in years.
Some of this day’s confusion stems from a BTC tracking internet scrape for companies, NVK’s BitcoinTreasuries.ranking, which inaccurately signifies that Tesla might possibly well presumably need impartial lately added BTC to its steadiness sheet.
That internet scrape, nonetheless, is an admitted passion project and is no longer any longer exhaustively researched or maintained.
In point of reality, the enviornment has known that Tesla has owned 11,509 BTC since on the very least the distinguished quarter of 2023. The corporation made no original purchases in 2024.
In point of reality, as antagonistic to shopping for BTC over time, Tesla’s company holdings possess in actuality lowered dramatically.
The firm’s all-time high BTC possession was as soon as in actuality in 2021 when it owned 43,200 coins. Had it no longer offloaded the extra 31,691 BTC it held as of February 8, 2021, it might possibly well probably well presumably had been sitting on an additional $1.6 billion.
Read more: Trump sells DOGE shirts after Musk appointment, Dogecoin rally
Musk continues to point of curiosity on other areas of crypto other than BTC — particularly DOGE. He’s keen on the memecoin and leads a US governmental advisory community of the same title. Tesla didn’t maintain any DOGE as of its December 31, 2024 earnings fable.
