Followin message, on October 16, according to on-chain data tracked by Arkham Research, Tesla has transferred 11,509 bitcoins (worth about $770 million) to a new address, which appears to be the company's entire bitcoin reserve.
In February 2021, Tesla announced the purchase of $1.5 billion in bitcoin, and sold 10% of its holdings in the second quarter of 2021. In July 2022, it sold 75% of the remaining bitcoin holdings.
The purpose of this bitcoin transfer is still unclear, and some community members believe the company may be preparing to sell. Tesla will announce its third-quarter financial results after the market close on October 23.
According to Coingecko data, the total corporate bitcoin holdings are approximately 360,000, with Tesla ranking fourth. The top three are MicroStrategy (approximately 130,000), Marathon Digital Holdings (26,842), and Grayscale (15,449), followed by Coinbase (9,183).
