Musk's BTCHoldings have been exposed......

On-chain data analysis platform Arkham Intelligence recently disclosed the total amount of BTC held by TSL, a company under Musk, and SpaceX.

This disclosure comes as BTC price is pumping. The BTC Federal Reserve has already cut the Interest Rate by 50 basis points earlier this month.

According to Arkham, Musk’s TSL and SpaceX currently hold a BTC reserve worth $1.3 billion. Such a large BTC reserve indicates Elon Musk’s bullish position on this leading digital asset. Based on the current market price of BTC, $1.3 billion is equivalent to approximately 19,788 BTC coins.

Elon Musk’s company TSL and SpaceX collectively own $1.3 billion worth of BTC. Arkham’s investigation results show that TSL’s BTC holdings have exceeded the previously reported figures. The report states that TSL held $780 million worth of BTC in March. Data also shows that SpaceX holds a large BTC treasury worth approximately $560 million. TSL’s foray into the BTC market began in February 2021 when the company purchased $1.5 billion worth of BTC.

The company said that the purchase of Bitcoin is to further diversify cash and maximize its cash return. TSL also stated that it will start accepting BTC as payment for its products, but must comply with applicable laws. Musk also revealed the BTC held by SpaceX at ‘The B Word’ online conference in 2021.

Musk said, “I do own BTC, TSL owns BTC, and SpaceX also owns BTC.”