Arkham: Tesla nonetheless owns $780 million in Bitcoin after pockets motion – ​​CoinJournal

• Tesla has divided 11,509 bitcoins amongst seven wallets
• Arkham Intelligence stated some have speculated the transfer was for a crypto custodian
• Tesla stays the third largest publicly traded Bitcoin firm, behind MicroStrategy and Marathon Digital Holdings

In response to a blockchain analytics firm, Tesla nonetheless holds 11,509 Bitcoins regardless of pockets actions final week.

in a publish on xArkham Intelligence stated:

“We imagine that Tesla The pockets motion we reported on final week was a pockets rotation, with Bitcoin nonetheless owned by Tesla. Tesla transferred its whole stability of 11,509 BTC ($776.9M) to the brand new pockets.

𝗨𝗣𝗗𝗔𝗧𝗘: 𝗧𝗘𝗦𝗟𝗔

We imagine the Tesla pockets motion we reported final week was pockets rotation with Bitcoin nonetheless owned by Tesla.

Tesla transferred its whole stability of 11,509 BTC ($776.9M) to the brand new pockets. pic.twitter.com/aWeHrwjo22

– Arkham (@ArkhimIntel) 22 October 2024

Arkham notes that Tesla splits 11,509 bitcoins Among the many seven wallets, the most important pockets holds 1Fnhp – 2109.3 BTC ($142.2M).

“Some have speculated that it is a motion for a custodian, for instance to safe a mortgage in opposition to BTC,” Arkham stated.

The third largest publicly traded Bitcoin holder

Tesla’s Bitcoin switch marks the primary time the electrical automotive firm has interacted with its crypto pockets since 2022, when it initially offered a good portion of its holdings.

At its peak, Tesla owned roughly 43,000 Bitcoins Invested 1.5 billion dollars In response to knowledge from, crypto belongings in February 2021 bitcoin treasuriesThis resulted within the sale of $272 million price of Bitcoin within the first quarter of 2021, producing a revenue of $128 million.

By second quarter of 2022, Tesla sells another $936 million in BitcoinWhich resulted in a revenue of $64 million whereas the market skilled volatility.

With current transfers, some feared that this could result in a market dumpTesla is anticipated to carry its third quarter earnings name on October 23 the place it might unveil its plans for its Bitcoin.

To this point, Tesla stays the third largest holder of Bitcoin amongst publicly traded corporations. It trails MicroStrategy and Marathon Digital Holdings.