🚀 Tesla's $778 million in Bitcoin was transferred to a mysterious wallet, and the market is speculating!
Tesla, the electric car giant led by Elon Musk, recently transferred 11,509 bitcoins worth $778 million to a new unknown wallet. This action was captured by blockchain analysis company Arkham Intelligence and immediately caused widespread speculation in the Bitcoin community.
The true intention behind Tesla's move is still unclear, but analysts have launched a heated discussion. Does this indicate that Tesla is ready to sell Bitcoin? Or are they preparing to buy more? Or may they re-enable the Bitcoin payment function to buy Tesla cars?
It is worth noting that this function was hinted in Tesla's software update last year, but these speculations have not yet been supported by solid evidence.
🗣️ The views of the big guys:
Ki Young Ju, CEO of on-chain analysis company CryptoQuant, said it is not clear whether Tesla is conducting an internal wallet reorganization or preparing for a sell-off.
He pointed out that even if Tesla sells Bitcoin, the impact will be limited, and Tesla's total profit has reached $816 million.
Similarly, on-chain analysis company Spot On Chain also said that the transferred BTC was likely transferred to a new wallet controlled by Tesla. They emphasized that these wallets had been idle for two years before, and this may be just a routine internal adjustment.
In addition, Elon Musk's previous remarks are also elusive. In December 2020, he called Bitcoin his "safe word", showing his personal love for this digital asset. But in March 2022, he also said that "Bitcoin is almost as ridiculous as fiat currency", implying skepticism about Bitcoin.
In short, some opinions speculate that Tesla may be selling its BTC holdings through over-the-counter transactions (OTC). But the questioning view is that Musk is a supporter of Trump and intends to build a strategic Bitcoin reserve, so the argument of selling these assets on the eve of the election does not seem reasonable.
💬What do you think? What do you think is the real purpose behind Tesla's move? Share your insights in the comment section and let's uncover this mystery together!
