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Yes, it’s likely. Approximately 19 minutes ago, Tesla, owned by Elon Musk, saw movements in its Bitcoin wallets. Small transfers occurred to new addresses, reminding us of a common practice. Corporate entities and individual whales often send small amounts to addresses before making large transfers. Once they confirm the successful arrival of Bitcoin, they proceed with the major transfer.
If Tesla executed this transfer, two conclusions can be drawn.
They might distribute their 11,509 BTC to various addresses.
They could be preparing to sell BTC worth 767 million dollars.
The empty nature of the recipient addresses allows for two interpretations.
Transfers may be preparing to go to Coinbase Prime or new addresses from different OTC sales or exchanges.
Tesla may have created new wallets, possibly new cold wallets.
We will likely learn the purpose behind this activity in the next one to two hours.
