Bitcoin

Recent blockchain data indicates that <a href="https://optimisus.com/news/crypto-news/tesla-moves-11500-btc-worth-765-million-in-october-2024/" rel="noopener noreferrer nofollow">Tesla Inc. continues to hold all of its 11,509 Bitcoin</a>, putting to rest speculation about a possible sale. Last week, Arkham Intelligence, a blockchain analytics firm, reported that Tesla had moved its Bitcoin—worth over $776 million—to new, undisclosed wallets, sparking rumors that the company might be offloading its holdings.However, Arkham later clarified that these transactions were internal wallet reorganizations rather than sales. They explained that Tesla is simply redistributing its Bitcoin across seven different wallets, each receiving test transactions before the final transfers. The new wallets now contain varying amounts of Bitcoin, ranging from 1,100 to 2,200 BTC.The identified wallets include 1Fnhp with 2,109.3 BTC, 1LERL holding 1,900 BTC, and others, each valued in millions. Some analysts speculate that Tesla may be positioning its Bitcoin as collateral for a loan instead of selling it, which would allow the company to leverage its crypto assets for liquidity without parting with them.This news comes just as Tesla is set to release its earnings report today, October 23, 2024, which could shed light on the company&#39;s Bitcoin strategy and the rationale behind the recent wallet transfers.Interestingly, this development coincides with the sixth anniversary of Elon Musk&#39;s first public endorsement of Bitcoin, a moment that has since seen the cryptocurrency&#39;s value skyrocket over 1,000%.Tesla&#39;s journey with Bitcoin has been notable. In February 2021, the company made headlines by acquiring $1.5 billion in Bitcoin, becoming one of the largest corporate holders. However, in mid-2022, <a href="https://optimisus.com/market/market-news/elon-musk-teases-the-possible-return-of-dogecoin-as-a-payment-option-for-tesla-merchandise/" rel="noopener noreferrer nofollow">Tesla</a> sold 75% of its holdings, approximately $936 million, citing liquidity needs during the COVID-19 lockdowns in China.

Tesla still holds all 11,509 Bitcoin, worth over $776M

Optimisus

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