Tesla has transferred the entire amount of Bitcoin worth more than 765 million USD to multiple anonymous cryptocurrency wallet addresses. Previously, Tesla's wallet had been "inactive" since June 2022.
Tesla's Bitcoin Transfer Moves
According to data from Arkham Intelligence, the cryptocurrency wallets labeled as belonging to Tesla have transferred nearly all of the company's 11,500 Bitcoin on October 15th through 26 transactions, including test transactions.
The first test transaction was executed at 3:41 AM on October 16th (Vietnam time), and the wallet currently only holds 6.68 USD in Bitcoin.
Before executing these sudden transfer orders, Tesla's Bitcoin wallet had been inactive since June 17, 2022.
There are no signs that this Bitcoin has been sent to any exchanges, and Tesla has not announced any plans to sell this cryptocurrency.
It is unclear whether Tesla still controls its 11,500 Bitcoin, which previously helped the company rank fourth among publicly traded companies holding the most Bitcoin, after MicroStrategy and Bitcoin mining companies like Marathon Digital and Riot Platforms, according to data from Bitcoin Treasuries.
About Tesla's Bitcoin Holdings
Tesla first purchased Bitcoin in February 2021, with a total value of $1.5 billion.
The following month, the company sold 4,320 BTC, and continued to sell 29,160 BTC in 2022.
Tesla CEO Elon Musk accepted Bitcoin as a payment method for Tesla vehicles in March 2021, but later reversed this decision just a few weeks later.
Musk's space exploration company, SpaceX, still holds 8,285 Bitcoin worth over $553 million, making SpaceX the seventh-largest private company in terms of Bitcoin holdings.
Details about Tesla's Bitcoin transactions - and whether the company has sold these assets - may be revealed when Tesla reports its Q3 financial results after the market closes on October 23rd.
The price of Bitcoin has not been significantly affected by Tesla's fund transfers and is currently trading at $66,877, up 1.39% in the past 24 hours, according to CoinMarketCap.
Follow CoinMoi to stay up-to-date on the hottest crypto market issues !
The article Tesla Transfers 765 Million USD Bitcoin to Anonymous Wallets first appeared on CoinMoi.
