Elon Musk's company achieved 2.3582 trillion won in profit through Bitcoin investment

SpaceX BTC Moves After 3 Years... Still Holding 18,600 'Diamond Hands'

SpaceX recently moved BTC worth $152 million (approximately 210.9 billion won), and it has been revealed that SpaceX and Tesla, led by Elon Musk, have achieved significant investment returns from their Bitcoin holdings.

According to the industry today, SpaceX and Tesla currently hold 18,486 Bitcoins. Based on an average purchase price of $32,000 and the current market price of $118,000, the two companies' Bitcoin investment returns exceed $1.7 billion (approximately 2.358 trillion won).

Tesla initially purchased Bitcoin worth $1.5 billion (approximately 2.081 trillion won) in January 2021. Subsequently, they sold Bitcoin worth $272 million (approximately 377.4 billion won) in the first quarter of the same year and $936 million (approximately 1.298 trillion won) in the second quarter of 2022.

SpaceX moved 17,314 Bitcoins to Coinbase during the market downturn from May 25 to June 10, 2022, and today, after approximately 3 years, moved an additional $152 million worth of Bitcoin.

This news comes as major companies' Bitcoin investment returns become visible, demonstrating that institutional investors' participation in the virtual asset market is becoming a profitable investment strategy.

Choi Joo-hoon joohoon@blockstreet.co.kr