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What makes this revelation even more surprising is that it contradicts Tesla's earlier disclosure in its Q4 report, where it claimed to. Arkham's findings suggest that Tesla's Bitcoin holdings have exceeded the previously reported figure, implying a potentially larger investment in the cryptocurrency than previously disclosed.
Tesla's journey into the world of Bitcoin began in February 2021 when the company made headlines by investing a substantial $1.5 billion in the cryptocurrency. This action sent ripples through the crypto space, catapulting Bitcoin's value to new highs. However, Arkham noted in its recent report that Tesla divested a portion of its holdings, selling $272 million worth of Bitcoin in Q1, 2021, and $936 million in Q2, 2022. Interestingly, Arkham's Tesla Intel Exchange Bounty uncovered a Tesla car purchase linked to the larger cluster of Tesla's Bitcoin holdings, providing additional validation for the platform's findings.of Bitcoin, Elon Musk remains somewhat hesitant toward cryptocurrency as a whole.