Tesla Moves Entire 11,510 BTC Holdings Worth $760 Million to Unknown Wallets After Two-Year Dormancy

Oct 15, 2024, 09:45 PM

Tesla Inc. has moved a total of approximately 11,510 BTC, worth around $760 million, marking the first transfer of its Bitcoin holdings in over two years. The electric vehicle manufacturer initiated an initial transfer of $225 million worth of Bitcoin, followed by subsequent transfers of $275 million and $260 million, according to blockchain analysis firm Arkham Intelligence. The transactions occurred between 4:41 and 5:34 UTC+8 on October 15, 2024, and involved moving the cryptocurrency to multiple unknown wallets. It is unclear whether Tesla intends to sell the Bitcoin or if the movement is a routine transfer. Tesla's CEO, Elon Musk, has not commented on the transactions.