Elon Musk’s Tesla transfers Bitcoin worth $770M to new addresses
Tesla relocated 11,509 bitcoins, valued at $770 million, to new addresses. This marks Tesla’s first Bitcoin transaction since selling most holdings in 2022. Tesla remains the third-largest Bitcoin holder among public companies after MicroStrategy. Tesla, the electric vehicle giant led by Elon Musk, has recently relocated its entire Bitcoin (BTC) treasury, consisting of 11,509 bitcoins valued at approximately $770 million, to multiple new addresses. This significant move was reported by analytics firm Arkham Research, which tracked the on-chain data associated with the transactions. First time Tesla is touching its Bitcoin stockpile The transfer of bitcoins marks Tesla’s first interaction with its crypto wallets since 2022 when the company sold off the majority of its holdings. The series of transactions occurred within a single hour and was preceded by six test transactions, indicating a strategic approach to the relocation. At its peak, Tesla...