Bitcoin

Arkham

Gains

Speculation has risen in the crypto community about Tesla’s recent bitcoin activity, including rumors that the company may sell off its holdings before the U.S. including the upcoming elections. Users are betting on Polymarket for Tesla that there is a 15% chance that they might sell their bitcoins in October, while earlier bets have put odds at 30%. 
The issue began after Tesla conducted its first Bitcoin transaction in two years and transferred <a href="https://www.cryptotimes.io/2024/10/16/elon-musks-tesla-moves-760m-in-bitcoin-after-two-years/" target="_blank" rel="noreferrer noopener">its $760 million worth of Bitcoin</a> from its public wallet.&nbsp; 
Data from Arkham Intelligence indicated that Tesla made several transfers, with the first three major transactions valued at $75.18 million, $76.08 million, and $77.16 million, respectively, creating speculation about potential market impact sales. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
 <img loading="lazy" decoding="async" width="815" height="423" src="https://www.cryptotimes.io/wp-content/uploads/2024/10/polytesla.png" alt="polytesla" class="wp-image-208134" style="width: 100%;height:auto">
 <figcaption class="wp-element-caption">
 Source: <a href="https://polymarket.com/event/tesla-sells-bitcoin-in-october?tid=1729144359479" target="_blank" rel="noreferrer noopener nofollow">Polymarket</a>
 </figcaption>
 </figure>
</div> 
Even so, some say a sale is unlikely. Known for his pro-crypto stance, Musk has supported Bitcoin in the past and has aligned himself with Donald Trump, who is open to embracing Bitcoin for the upcoming U.S. Elections. This transaction fueled beliefs that Tesla could hold onto its Bitcoin for a long time. 
Users at Polymarket bet $2,688 on whether Tesla will sell its Bitcoin this month, but the outcome remains uncertain due to Musk’s unpredictability. Whether this prompted a major market shift or just a strategic move, Tesla’s bitcoin decisions are under intense scrutiny by crypto enthusiasts and investors. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/10/16/italy-to-raise-capital-gains-tax-on-bitcoin-to-42/" target="_blank" rel="noreferrer noopener">Italy to raise Capital Gains Tax on Bitcoin to 42% ahead of ‘Bitcoin Boom’</a> 
</blockquote>

Tesla’s Bitcoin Sale: Will It Happen Before Elections?

The Crypto Times

Other articles published on Oct 17, 2024

Top Crypto Gainers Today Oct 17 – Humans.ai, Echelon Prime, Gnosis, Aptos

Investor Earns Millions from Altcoin Investments

Italy To Hammer Bitcoin Profits By Hiking Capital Gains Tax On Cryptocurrencies To 42%

U2U Network Introduces First DePIN Subnet Node Sale for Decentralized Infrastructure Growth

Bitcoin Holds Steady as DOGE Surges

Discover These 3 Hidden Crypto Gems for Life-Changing Gains in Q4 2024

Join our free newsletter for daily crypto updates!