Tesla has reportedly transferred more than $750 million worth of Bitcoin (BTC) to new wallet addresses in the last hour. This transaction marks the first activity from a Tesla-linked wallet since June 2022, raising questions about the company’s future intentions regarding its cryptocurrency holdings.
The wallet associated with Tesla moved approximately 11,500 BTC across multiple transactions, leaving only about $6.74 remaining in the original wallet. The transfers began with a small test transaction of 0.001 BTC before escalating to millions in Bitcoin being moved to unknown wallets.
According to blockchain analytics firm Arkham Intelligence, this substantial transfer has sparked speculation regarding whether Tesla is planning to sell its Bitcoin or simply reposition its assets.
While some analysts suggest that this could indicate a potential sale, others believe it is more likely a strategic move towards direct custody or cold storage of the assets. The wallets receiving the Bitcoin have not been linked to any crypto exchanges, which could imply that Tesla is not looking to liquidate its holdings immediately.
Crypto enthusiasts are closely monitoring this development, as Tesla is one of the largest corporate holders of Bitcoin, and any significant changes in their strategy could impact market dynamics.
