On October 15, Tesla moved over $765 million worth of Bitcoin (approximately 11,500 BTC) into several unidentified wallets. According to Arkham Intelligence, the transfers occurred across 26 transactions, including test transfers. Following the move, Tesla’s Bitcoin wallet contained just $6.68 worth of Bitcoin.
Prior to the transfer, Tesla’s Bitcoin wallet had been inactive since June 17, 2022. There are no signs that the Bitcoin has been sent to exchanges or is intended for sale.
Data from Bitcoin Treasuries does not clarify whether Tesla still controls the 11,500 BTC. If so, Tesla would remain the fourth-largest corporate Bitcoin holder, behind MicroStrategy, Marathon Digital, and Riot Platforms.
Tesla has not responded to requests for comment on the transfer.
Tesla initially purchased Bitcoin in February 2021 for $1.5 billion, selling 4,320 BTC in March and 29,160 BTC in 2022. CEO Elon Musk briefly accepted Bitcoin as payment for Tesla vehicles but quickly reversed the decision.
SpaceX, Musk’s other company, still holds 8,285 BTC, valued at over $553 million, making it the seventh-largest private Bitcoin holder. Details regarding Tesla’s Bitcoin transfer may be revealed in its Q3 financial report on October 23.
As Bitcoin’s price currently peaks around $68,000, the impact of Tesla’s transfer on the future of Bitcoin’s price remains to be seen. Stay tuned for further updates with Bnb Faucets!
