Tesla has split the 11,509 Bitcoin across seven wallets
\nArkham Intelligence said some have speculated that the move was to a crypto custodian
\nTesla remains the third largest publicly traded Bitcoin company being MicroStrategy and Marathon Digital Holdings<\/p>\n
Tesla still owns 11,509 Bitcoin despite the wallet movement last week, according to a blockchain analytics company.<\/p>\n
In a post on X<\/a>, Arkham Intelligence said:<\/p>\n \u201cWe believe that the Tesla<\/a> wallet movements that we reported on last week were wallet rotations with the Bitcoin still owned by Tesla. Tesla moved their entire balance of 11,509 BTC ($776.9M) to new wallets.\u201d<\/p>\n \ud835\udde8\ud835\udde3\ud835\uddd7\ud835\uddd4\ud835\udde7\ud835\uddd8: \ud835\udde7\ud835\uddd8\ud835\udde6\ud835\udddf\ud835\uddd4 \ud835\uddd5\ud835\udddc\ud835\udde7\ud835\uddd6\ud835\udde2\ud835\udddc\ud835\udde1 \ud835\uddea\ud835\uddd4\ud835\udddf\ud835\udddf\ud835\uddd8\ud835\udde7\ud835\udde6<\/p>\n We believe that the Tesla wallet movements that we reported on last week were wallet rotations with the Bitcoin still owned by Tesla.<\/p>\n Tesla moved their entire balance of 11,509 BTC ($776.9M) to new wallets. pic.twitter.com\/aWeHrwjo22<\/a><\/p>\n \u2014 Arkham (@ArkhamIntel) October 22, 2024<\/a><\/p>\n\n Arkham noted that Tesla split the 11,509 Bitcoin<\/a> into seven wallets, with the largest wallet holding 1Fnhp \u2013 2109.3 BTC ($142.2M).<\/p>\n \u201cSome have speculated that this is movement to a custodian, for example to secure a loan against the BTC,\u201d said Arkham.<\/p>\n Tesla\u2019s Bitcoin transfers mark the first time the electric car company has interacted with its crypto wallet since 2022 when it initially sold off a significant portion of its holdings.<\/p>\n At its height, Tesla owned around 43,000 Bitcoin after it invested $1.5 billion<\/a> in the crypto asset in February 2021, according to data from BitcoinTreasuries<\/a>. This resulted in the sale of $272 million worth of Bitcoin in the first quarter of 2021, creating a profit of $128 million.<\/p>\n By the second quarter of 2022, Tesla sold another $936 million in Bitcoin<\/a>, generating $64 million in gains as the market experienced volatility.<\/p>\n With the recent transfers, some feared this would lead to a market dump<\/a>. Tesla is expected to conduct its third-quarter earnings call scheduled on October 23 where it may reveal its plans for its Bitcoin.<\/p>\n To date, Tesla remains the third largest holder of Bitcoin among publicly traded companies. It trails behind MicroStrategy and Marathon Digital Holdings.<\/p>\n The post Arkham: Tesla still owns $780m in Bitcoin following wallet movement<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Tesla has split the 11,509 Bitcoin across seven wallets Arkham Intelligence said some have speculated that the move was to a crypto custodian Tesla remains the third largest publicly traded Bitcoin company being MicroStrategy and Marathon Digital Holdings Tesla still owns 11,509 Bitcoin despite the wallet movement last week, according to a blockchain analytics company. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1720","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=1720"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1720\/revisions"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=1720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=1720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=1720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Third largest publicly traded Bitcoin holder<\/h2>\n