Tesla is the third largest bitcoin holding in the world

The data shows that its assets increased by 1,789 bitcoins compared to Jan. During the recent rise in popularity of the cryptocurrency market, analysis has shown that a number of important investors are actively entering the market. According to a recent analysis by Arkham Intelligence, a blockchain data platform, the bitcoin position of Tesla, an American electric car manufacturer, has seen an increase. It currently holds around 11,509 bitcoins, up 1,789 from the 9,720 disclosed in January this year. Although founder Musk has not directly responded to this rumor, which is very different from his usual method of communication, the move highlights that the cryptocurrency market has attracted more investment funds, which is not in doubt.

Tesla is currently the third largest bitcoin holding in the world

If the above information is correct, Tesla is currently the third largest bitcoin holding company in the world, behind only Marathon Digital, a micro-strategy and mining company that closely supports Bitcoin, but that doesn't include Musk's other company, the US-based space exploration technology company. According to Arkham Intelligence, SpaceX owns 8,285 Bitcoins, which means the two companies own a total of 19,794 Bitcoins. Based on bitcoin's current market price of $668,000, the value of these assets exceeds $1.346 billion.

Most bitcoins sold in 2022

Past records show that Tesla sold 4,320 bitcoins in 2021 and another 29,160 in 2022. By 2023, its bitcoin inventory was stable at 9,720. In terms of market dynamics, the bitcoin price rose about 1.77% during the day to $668,280, while the Ethereum price was fixed at $33,922. As of March 7, the total net asset value of bitcoin-spot exchange traded funds (ETFs) reached US$553.11 billion, representing 4.04% of Bitcoin's liquidity.