Tesla Moves its Bitcoins to New Addresses
Tesla has recently transferred approximately $770 million worth of Bitcoins to new addresses, as reported by Arkham Research through onchain data tracking.
This amount is believed to represent the entirety of Tesla’s remaining Bitcoin stash.
Within the last hour, Tesla has initiated a series of transactions, moving the cryptocurrency to around seven different addresses.
Precursory to these token transfers were six test transactions, marking the first time Tesla has used their Bitcoin wallets since their mass sell-off in 2022. As of October 15, Tesla held an estimated 9,720 Bitcoins, equivalent to approximately $650 million.
This is a significant decrease from the 43,000 it once held. However, according to Arkham Research, Tesla could potentially hold as much as 11,509 Bitcoins across 68 separate addresses, which would amount to approximately $770 million at the current market price.
