Cryptocurrency

Tesla maintains $1.25 billion in Bitcoin holdings, signaling continued confidence

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Tesla still owns about 11,900 BTC. At the price of $108,929.10 per coin today, the hiding place is worth about $1.257 billion. According to on-chain data shared on X by Arkham Intelligence on X, electric car manufacturers have not stood out from the HODL stance since the first big buy in 2021 in the first quarter.

Tesla’s Bitcoin Collection Confirmed

According to the report, Tesla retains its coins in custody of Coinbase Prime. The move underscores the comfort of a company holding a large amount of Bitcoin.

It has dropped by 1% in the past 24 hours, causing no sell-off. Back in 2021, Tesla spent $1.5 billion to buy Bitcoin. Later, it sold slices worth about $1.2 billion, but never fully cashed in.

Company buyers intervene

More and more companies are piled up bitcoins and they are buying on a large scale. Strategion Inc., led by Michael Saylor, added 7,390 coins to hold 576,230 BTC for $765 million.

The move sent more than $400 to the stock. There are 7,800 BTC in the books on technical clothing trading under Ticker 3350.T. It plans to reach 10,000 BTC and sees its stock grow 15% after the latest purchase of 1,004 coins.

The country seeks Bitcoin reserves

U.S. President Donald Trump’s return to office this year has sparked new interest in public Bitcoin holding companies. New Hampshire passed a bill on May 6 that allows certain states to invest up to 5% of Bitcoin and other big crypto assets.

BTC is currently trading at $108,290. Chart: TradingView

In Texas, the House of Representatives approved Senate Bill 21 with 101-42 votes on May 22, establishing the Texas strategic bitcoin reserve. Governors in both states weigh when to sign. Arizona has also cleared a fund of unclaimed property to facilitate entry into cryptocurrencies on May 7.

Credit: David Paul Morris / Bloomberg / Contributor / Getty Images

Observe the numbers carefully

Tesla’s 11,900 BTC is well below its original 43,200-Coin Haul. Starting from 2021. Strategic Inc.’s 576,230 coins are worth more than $62 billion.

3350.T Outfit’s 7,800 BTC equals $850 million. State plans vary, but New Hampshire’s cap could turn millions of dollars to Bitcoin this year. Texas bills do not set a dollar limit, but any move marks the number one spot in major states.

Prospects of Bitcoin adoption

Investors and public institutions have watched the price fluctuations of Bitcoin before investing in their money. Tesla’s stable holdings indicate that beliefs have not diminished. Business purchases keep headlines busy, while state plans hint at a new chapter in U.S. finance.

Market watchers will look for signatures about these bills and any new measures from other states. For now, the story is clear: big players still think Bitcoin is worth owning.

Featured images from Unsplash, charts for TradingView

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