Tesla shifts entire $765M Bitcoin holdings, sparking strategy speculation
Tesla, the electric vehicle leader, has transferred its entire Bitcoin (BTC) holdings, worth approximately $765 million, to a series of unidentified wallets, raising questions about the company’s strategy toward crypto.
According to Arkham Intelligence data, the transfers involved 11,500 Bitcoin that were moved over 26 distinct transactions to multiple new addresses. Despite the large-scale shift, the funds have not been linked to any crypto exchanges, indicating that Tesla may not be liquidating its Bitcoin at this time.
The move marks the first time Tesla’s Bitcoin wallet has seen activity since June 2022. Prior to the transfers, the wallet had been dormant, leaving many industry observers to speculate on the firm’s plans.
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