Why Did Tesla Move $760M in Bitcoin? 💰
#Tesla ’s recent move of $760 million worth of bitcoin from its wallets sparked widespread speculation. This marks the first time in two years the electric car giant has shifted its BTC holdings, and traders initially feared a large selloff.
However, the BTC has not been sent to exchanges, reducing concerns of immediate sales. Potential reasons include internal audits, wallet management, fund restructuring, or #UTXO consolidation to optimize transaction costs and efficiency.
So far, Tesla or Elon Musk have not provided any explanation, with more details possibly emerging during Tesla’s upcoming Q3 earnings #report .
What do you think? 🤔
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