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Arkham Locates Elon Musk's Bitcoin Holdings As Your Personal Safety At Risk

Bitcoin has been smashing through its previous all time highs continuing to rise to unprecedented levels. The surge in Bitcoin's price is not merely a coincidence but a result of several significant factors coming together within the Crypto currency market creating a perfect Bull Market. Among these factors are escalating inflation concerns and the massive influx of capital into Bitcoin Exchange-Traded Funds (ETFs) investing in digital assets and further financial maneuvers within the realm of high profile figures like as Elon Musk.

According to a recent analysis by Arkham Bitcoin transactions and flows closely mirror the balance sheets of Elon Musk's ventures including SpaceX and Tesla. This correlation became evident when Tesla made headlines by announcing its acquisition of USD 1.5 billion worth of Bitcoin in January 2021. Following this bold move Tesla even briefly entertained the notion of accepting Bitcoin as a form of payment for its vehicles, further showing its commitment to the leading crypto currency.

Fast forward to the present day and it appears that Tesla's Bitcoin holdings have continued to grow. Recent data indicates that a significant portion of Tesla's current BTC holdings can be traced back to specific transactions related to car sales suggesting ongoing accumulation strategies within the company.

Tesla and SpaceX Relationship with Bitcoin

Tesla's relationship with Bitcoin has seen its fair share of twists and turns. The electric vehicle giant made headlines again when it decided to part ways with a substantial portion of its Bitcoin holdings. In the first half of 2021 when Tesla initiated its first sell-off of BTC followed by another significant sale in 2022. The latter sale amounted to a staggering USD 936 million, coinciding with the onset of a bear market as Bitcoin dipped below the USD 40,000 mark.

Looking at SpaceX another company of Elon Musk entered the Bitcoin arena in 2021 acquiring a notable amount of the digital asset. However, the company made headlines when it divested approximately USD 450 million worth of Bitcoin in 2022. Despite these sales, SpaceX's current BTC holdings stand at over USD 555 million shining a light on Elon Musk's continued involvement in the crypto currency space.

When considering the cumulative Bitcoin holdings of Tesla and SpaceX Elon Musk's ventures emerge as the second largest holders of BTC trailing only behind MicroStrategy. This revelation further show cases Musk's influence within the crypto currency realm and provides an insight into his strategic positioning within the market.

The surge in Bitcoin's price to USD 68,000 once again revisiting its all-time high, shows the bullish sentiment prevailing in the crypto currency markets. This remarkable ascent comes at a time when global inflation concerns are on the rise prompting investors to seek refuge in assets such as Bitcoin which offer inherent scarcity and resistance to inflationary pressures.

Bitcoin Lands On More People's Holdings

The recent rise and strong investment of ETFs investing in Bitcoin has provided institutional investors with easier access to the digital asset further fuelling demand and driving prices to new heights.

IBitcoin's meteoric rise to new all time highs and growing acceptance within mainstream finance shows us that a new era of financial services is emerging. As inflation concerns escalate and institutional interest intensifies Bitcoin's role as a store of value and hedge against economic uncertainty becomes increasingly pronounced. And with figures like Elon Musk making waves in the crypto currency space the future of Bitcoin appears brighter than ever before.

Your Personal Safety Risks

This also comes at a time when Arkham has been allocating extensive resources to locate who the biggest Bitcoin influencers are and have emerged as the first group to successfully match Bitcoin sales to a company. That being SpaceX and Tesla.

No doubt the company will continue to do their work and locate more rich influencers investing in Bitcoin but it also brings to light a massive flaw within Crypto Currency. Governments have wanted transactions to remain transparent which has been a massive call card for Crypto. But now that the value is growing it is ever more important to ensure peoples records are safe and secure. If one group can locate Elon Musk’s

holdings there is no reason why smaller operators can not locate individual information and then use that information to leverage people into gaining access to their funds.

At what point do privacy laws kick in while the market is small today, in the future many people could have amassed millions of dollars and personal safety will be at risk if people track your transactions and manage to hunt you down.

Image sources provided supplemented by Canva Pro subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.

Posted Using InLeo Alpha