📊 Tesla Moves $765M BITCOIN Stash to Unknown Wallets: What’s Next?
Tesla just made a major move with its 11,500 Bitcoin, worth over $765 million, transferring the entire stash to unknown wallets. This comes as a surprise, as Tesla’s BTC wallet had been dormant since June 2022, making this sudden batch of 26 transactions a topic of speculation across the crypto community.
What We Know:
- Tesla initiated the transfers on Oct. 15, with test transactions starting at 8:41 pm UTC.
- The crypto was moved across 26 transactions, according to Arkham Intelligence, but no BTC has been sent to exchanges—yet.
- Tesla hasn't publicly disclosed any plans to sell, nor has it confirmed if it still controls the Bitcoin.
The Bigger Picture:
Tesla bought $1.5 billion worth of Bitcoin in February 2021, making waves in the crypto world. While Elon Musk briefly accepted BTC as payment, Tesla sold 29,160 BTC in 2022 and reduced its holdings. Now, it holds 11,500 BTC, making it the fourth-largest Bitcoin holder among public companies, trailing MicroStrategy and Bitcoin miners like Marathon Digital.
Meanwhile, Musk’s other venture, SpaceX, still holds 8,285 BTC, valued at over $553 million.
Tesla hasn’t made any official statement, but their Q3 financial results on Oct. 23 could reveal more. There’s no visible effect on Bitcoin's price yet, which continues trading around $67K. However, the move raises questions—Is Tesla about to sell? Or is this a security measure?
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