Tesla Relocates $760M Worth of Bitcoin, While Spacex Funds Remain Untouched
On Oct. 15, 2024, Tesla initiated a transaction, transferring 1,800 BTC at precisely 5:03 p.m. EDT at block height 865,811. Following this initial move, the company shifted a grand total of 11,509 BTC, valued at more than $760 million, from its well-known wallets. At this time, itâs suspected that the funds have been relocated to new wallets, although this remains unconfirmed.
Teslaâs Bitcoin Exodus Tesla has emptied its bitcoin holdings, with all assets sent to unknown wallets. Interestingly, all the addresses receiving the funds were legacy-style P2PKH (Pay to Public Key Hash) addresses. The first batch of BTC, detected by Arkham Intelligence, involved 1,800 BTC sent to a wallet starting with â1D6Vh,â where the funds remain untouched as of now. The same holds true for the remaining 11,509 BTC, which was moved in a series of roughly 20 distinct transactions, collectively valued at over $760 million.
Elon Muskâs Spacex, with its holding of 8,285 BTC valued at $555.47 million, adds another layer to the broader narrative of his companiesâ significant involvement in cryptocurrency. As Tesla moves its funds, attention turns to Spacexâs strategy. The alignment of these massive holdings suggests a calculated approach, leaving speculation on how these assets will be managed. It remains uncertain if these coins were sold or merely transferred.
The large-scale movement of Teslaâs bitcoin could signal strategic repositioning or enhanced security measures, raising questions about the companyâs future crypto intentions. While the destination and purpose of these funds remain unclear, this transaction has undoubtedly caught the attention of analysts and crypto enthusiasts alike, sparking curiosity about Teslaâs evolving role in the digital asset space. #BTCâ #bitcoinâïž #Btctopcrypto #BTCSurges67K
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