Arkham Intelligence has confirmed that Tesla’s Bitcoin holdings, recently moved, remain under the company’s control, despite speculation. Tesla’s entire 11,509 BTC, now worth $765 million, has been relocated to seven separate wallets.
Interestingly, Tesla opted to transfer the assets to legacy P2PKH (Pay-to-Public-Key-Hash) addresses rather than modern formats like P2SH or Bech32. According to Arkham, this move was likely a wallet rotation rather than a sale, ensuring that the Bitcoin is still owned by Tesla.
The funds are now distributed among wallets holding between 1,100 and 2,200 BTC, all having received test transactions before final storage. The Bitcoin remains unmoved since the transfer. Tesla’s BTC is believed to be held with Coinbase Prime Custody, adding a layer of institutional-grade security to the assets.
Meanwhile, Elon Musk’s other company, SpaceX, holds 8,285 BTC, valued at approximately $550 million, reinforcing their shared investment in Bitcoin as a long-term store of value.
Tesla’s wallet rotation signals an effort to boost security while maintaining its large Bitcoin position, reflecting sustained confidence in the cryptocurrency.