Tesla Moves $765M Bitcoin To Unknown Wallets, Raising Questions About Elon Musk’s Crypto Strategy
Electric vehicle giant Tesla has transferred Bitcoin holdings worth over $765 million to unknown wallets, sparking speculation about Elon Musk’s crypto strategy. The electric vehicle maker moved its entire stash of 11,500 BTC on Oct. 15 in 26 transactions, the first activity from its crypto wallet since June 2022, according to Arkham Intelligence. Tesla, which was the fourth-largest corporate holder of Bitcoin among listed companies in the US, didn’t comment on why it moved the digital assets. Tesla’s tracked wallets now hold just $6.74 worth of Bitcoin. TESLA JUST MOVED ANOTHER $260M BTC TOTAL MOVED: $760M pic.twitter.com/ukAcHW1EZC — Arkham (@ArkhamIntel) October 15, 2024 According to BitcoinTreasuries data, only MicroStrategy (MSTR), Marathon Digital (MARA), and Riot Platforms (RIOT) have larger BTC stockpiles than Tesla. Tesla made headlines in February 2021 when it announced a $1.5 billion investment in Bitcoin (BTC). Since then, the ma...