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Tesla Moves$770M of Its BTC Stash to New Addresses

Mary Liu

Summary: Electric car maker Tesla has shifted its entire remaining Bitcoin holdings to new addresses, according to blockchain analytics firm Arkham Research.  The company, led by Elon Musk, transferred approximately 11,509 Bitcoin, valued at around $770 million, over the past hour. This marks the first significant interaction with Tesla's Bitcoin wallet since the company sold a ...

Electric car maker Tesla has shifted its entire remaining Bitcoin holdings to new addresses, according to blockchain analytics firm Arkham Research. 

The company, led by Elon Musk, transferred approximately 11,509 Bitcoin, valued at around $770 million, over the past hour.

This marks the first significant interaction with Tesla's Bitcoin wallet since the company sold a portion of its holdings in 2022. Prior to the transfer, Tesla conducted six test transactions, suggesting a deliberate and planned move.

While the exact purpose of the transfer remains unclear, speculation within the crypto community suggests that Tesla might be preparing to sell its remaining Bitcoin. The company is set to report its third-quarter financial results on October 23.

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