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Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: sirty143 on March 08, 2024, 01:18:16 PM

Title: On-Chain Analysis Reveals Tesla Has 11,509 Bitcoins and Spacex Owns 8,285 BTC, S
Post by: sirty143 on March 08, 2024, 01:18:16 PM
On-Chain Analysis Reveals Tesla Has 11,509 Bitcoins and Spacex Owns 8,285 BTC, Says Arkham

Crypto analytics firm Arkham claims to have identified the bitcoin holdings of Elon Musk’s companies, Tesla and Spacex. “The on-chain fund flows we’ve identified match financial statements from Tesla and Spacex,” the firm detailed... See more for yourself here (https://news.bitcoin.com/on-chain-analysis-reveals-tesla-has-11509-bitcoins-and-spacex-owns-8285-btc-says-arkham/).

Your opinion is greatly appreciated.
Title: Re: On-Chain Analysis Reveals Tesla Has 11,509 Bitcoins and Spacex Owns 8,285 BTC, S
Post by: Tribalchief on March 08, 2024, 02:46:24 PM
When we observe how Elon Musk involves himself or his companies with cryptocurrency, we realize that he is the quiet type who doesn't talk much about his holdings. Just as we preach decentralization, we should learn to take the issue of privacy seriously. I see no reason why On-Chain would propose the disclosure of Musk's holdings to the public when Musk isn't under any form of investigation. Musk never asked for his holdings to be released to the public unless On-Chain wants to be in the news. This is clearly unlike Saylor and MicroStrategy that reveals every step taken in the Bitcoin community.

Surprisingly, I observed that the holdings aren't that massive. It seems Musk isn't the type to purchase Bitcoin in large quantities like saylor.
Title: Re: On-Chain Analysis Reveals Tesla Has 11,509 Bitcoins and Spacex Owns 8,285 BTC, S
Post by: Don Pedro Dinero on March 09, 2024, 03:37:26 PM
I hope that this is an isolated case and that it is news because of the size of the companies, I hope that it will be common in the near future, that companies will hold bitcoin in the same way that they can hold bonds or shares in other companies for their reserves. If the day comes when the majority of companies in the S&P 500 have bitcoin on their balance sheet on that day we will be able to say that bitcoin has been institutionally adopted. The states would be missing, then.
Title: Re: On-Chain Analysis Reveals Tesla Has 11,509 Bitcoins and Spacex Owns 8,285 BTC, S
Post by: ABCbits on March 10, 2024, 11:24:34 AM
Quote from: Tribalchief on March 08, 2024, 02:46:24 PM
When we observe how Elon Musk involves himself or his companies with cryptocurrency, we realize that he is the quiet type who doesn't talk much about his holdings.

Yeah, but i recall he used to talk about Bitcoin a lot. And don't forget both Tesla and SpaceX are public company where opinion of other major stock holder also matters.

Quote from: Tribalchief on March 08, 2024, 02:46:24 PM
Just as we preach decentralization, we should learn to take the issue of privacy seriously. I see no reason why On-Chain would propose the disclosure of Musk's holdings to the public when Musk isn't under any form of investigation. Musk never asked for his holdings to be released to the public unless On-Chain wants to be in the news. This is clearly unlike Saylor and MicroStrategy that reveals every step taken in the Bitcoin community.

I somewhat agree, but everyone who own Bitcoin should already know Bitcoin doesn't offer that much privacy by default and isn't anonymous. But on other side, it makes possible to estimate how much Bitcoin hold by exchange or centralized institution.