Tesla has moved its entire Bitcoin holdings, worth approximately $765 million, into a series of unidentified wallets, raising questions across the cryptocurrency community. The transfer involved 11,500 Bitcoin in 26 separate transactions, none of which were linked to exchanges, suggesting Tesla may not be selling its assets.
This marks the first major movement of Teslaâs Bitcoin since 2022, when the company sold portions of its holdings. Initially purchasing $1.5 billion in Bitcoin in 2021, Tesla had made waves by briefly accepting Bitcoin as payment before reversing the decision due to environmental concerns over Bitcoin mining.
Teslaâs recent move has reignited speculation about its future cryptocurrency strategy, especially as the company prepares to release its third-quarter financial report. Some believe this transfer could signal a strategic repositioning or internal reallocation of assets, though no official statements have been made.
With Elon Muskâs affinity for Dogecoin, further speculation has arisen around Tesla's broader approach to cryptocurrencies. Musk recently teased potential Dogecoin integration with Teslaâs autonomous âCybercab,â drawing attention from both crypto enthusiasts and Tesla followers.
