Key Takeaways:
- Tesla transferred its entire $765M Bitcoin stash (11,500 BTC) to unknown wallets, with no indication of a sale.
- The move involved 26 transactions, following an inactive period since June 2022.
- Tesla has not yet commented on whether it still controls the Bitcoin or plans to sell it.
On October 15, Tesla transferred its entire Bitcoin holdings, valued at over $765 million, to several unidentified wallets.
Data from Arkham Intelligence showed that Tesla moved nearly all of its 11,500 Bitcoin in 26 transactions, following a series of test transfers.
This sudden activity is notable because Tesla’s Bitcoin wallet had been inactive since June 2022.
There is no indication that the Bitcoin was moved to exchanges, and Tesla has not clarified if it intends to sell its holdings or still retains control.
Tesla initially purchased $1.5 billion worth of Bitcoin in 2021 and sold portions in 2021 and 2022.
The company’s next financial report, expected on October 23, may provide more details.
Despite these large transfers, Bitcoin’s price remained stable at $66,790. Tesla has not yet responded to inquiries about the move.