-
Wallets
associated
with
Elon
Musk’s
Tesla
have
moved
$760
million
worth
of
bitcoin
(BTC). -
The
funds
were
moved
to
unknown
wallets. -
Tesla
is
the
fourth-biggest
bitcoin
holder
among
public
companies.
-
01:01
Bitcoin
Breaks
$64K
While
Gold
Soars -
00:56
ETH/BTC
Ratio
Slid
to
Lowest
Since
April
2021 -
00:57
Is
Bitcoin
Losing
Its
Bullish
Momentum?
Elon
Musk’s
Tesla,
one
of
the
biggest
corporate
owners
of
bitcoin
(BTC),
transferred
nearly
all
$760
million
of
the
cryptocurrency
it
owns
to
unknown
wallets,
raising
the
possibility
the
carmaker
is
selling.
Wallets
associated
with
the
electric
car
manufacturer
on
Tuesday
moved
more
than
11,500
bitcoin
to
wallets
whose
ownership
is
unknown,
according
to
crypto
data
firm
Arkham
Intelligence.
The
Tesla
wallets
only
retain
about
$6.65
worth
of
BTC
–
essentially
nothing.
Tesla
is
the
fourth-biggest
holder
of
bitcoin
among
publicly
traded
U.S.
companies,
per
BitcoinTreasuries
data.
Only
software
company
MicroStrategy
and
bitcoin
mining
firms
MARA
Holdings
and
Riot
Platforms
have
larger
stockpiles.
Tesla
bought
$1.5
billion
worth
of
bitcoin
in
February
2021,
and
at
some
point
owned
as
much
as
$2.5
billion
worth,
according
to
Arkham
data.
However,
the
firm
sold
75%
of
its
holdings
in
early
2022
at
a
loss.
When
Arkham
Intelligence
added
the
car
maker’s
bitcoin
wallet
tracking
feature
to
its
dashboard
in
March,
it
held
about
11,509
bitcoin,
worth
roughly
$770
million.
Musk
had
also
previously
announced,
back
when
Tesla
first
acquired
its
stash,
that
the
company
would
soon
accept
bitcoin
payments,
but
the
plans
were
dropped
shortly
after
due
to
environmental
concerns.
While
some
of
Musk’s
companies
–
including
Tesla
and
SpaceX
–
hold
bitcoin
on
their
balance
sheets,
it
is
unclear
how
much
the
X
(formerly
Twitter)
owner
believes
in
the
cryptocurrency
himself.
In
an
interview
broadcast
on
YouTube
in
July,
Musk
said
that
he
thinks
“there’s
some
merit
in
bitcoin,
and
maybe
some
other
crypto,”
but
that
his
soft
spot
was
for
dogecoin
(DOGE).
UPDATE
(Oct.
15,
2024,
22:30
UTC):
Adds
more
details
on
Tesla’s
bitcoin
journey.
CORRECTION
(Oct.
15,
2024,
22:30
UTC):
Fixes
name
of
MARA
Holdings.
