Tesla Stirs Crypto Market With Unpredicted Bitcoin Wallet Activity
Tesla, a pioneer in electric vehicles spearheaded by Elon Musk, reportedly transferred its entire Bitcoin holdings, 11,509 BTC valued at approximately $770 million, to new digital addresses.
These transfers, occurring in a blitz of transactions over a few days, also mark the first time since 2022 that Tesla has touched its Bitcoin wallets after selling off much of its cryptocurrency investments.
Tesla’s foray into the cryptocurrency space began on a strong note, with its $1.5 billion investment in Bitcoin back in February 2021. It reportedly had as many as 43,000 Bitcoins at one point in time.
However, sales in the following months have considerably trimmed this position. In…
