Tesla's Bitcoin Holdings Surpass 1.7 Trillion Won Amid Bitcoin Surge; Holdings at 11,900 BTC
Minseung Kang
Summary
- It was reported that Tesla's valuation of held Bitcoin has surpassed approximately 1.7 trillion won due to the recent rise in Bitcoin prices.
- Tesla's current Bitcoin holdings are approximately 11,900, amounting to $1.25734 billion.
- Tesla liquidated 75% of its holdings in the second quarter of 2022 but has since repurchased some, maintaining long-term confidence in Bitcoin.
With the recent rise in Bitcoin (BTC) prices, the valuation of Bitcoin held by American electric vehicle company Tesla has exceeded $1.25 billion (approximately 1.7 trillion won).
According to CryptoPolitan, a cryptocurrency media outlet, on the 24th, on-chain data company Arkham Intelligence revealed that Tesla's BTC holdings amount to approximately 11,900, valued at $1.25734 billion as of the day's market price. Previously, Tesla had liquidated about 75% of its holdings in the second quarter of 2022. Since then, it has repurchased some, increasing its holdings again.
The media added, "Led by Elon Musk, Tesla is establishing itself as a representative company with long-term confidence in Bitcoin."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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