Key Takeaways
- Tesla moved $770 million worth of Bitcoin to new addresses.
- Tesla holds an estimated 11,509 BTC across 68 addresses.
- The company may be preparing to sell more of its Bitcoin holdings.
Tesla, led by Elon Musk, has moved approximately $770 million worth of Bitcoin to new addresses, according to onchain data from Arkham Research.
The transfer of 11,509 BTC marks the first time Tesla has interacted with its Bitcoin wallets since selling most of its holdings in 2022.
68 addresses
In a series of transactions over the past hour, the company moved Bitcoin from its estimated 68 addresses, fueling speculation that Tesla could be preparing to sell more of its Bitcoin.
The electric vehicle giant made headlines in February 2021 with a $1.5 billion Bitcoin investment but has since reduced its holdings, now estimated at 9,720 BTC (around $650 million).
Tesla previously sold $272 million worth of Bitcoin in Q1 2021, and $936 million in Q2 2022.
The company, the third-largest Bitcoin holder among publicly traded firms, will report its Q3 financial results on October 23.
