Tesla, according to blockchain transaction tracking platform Arkham, still holds around $772.5 million worth of Bitcoin, spread across seven new wallets. These hold a total of 11,509 BTC, marking the first time in two years that Tesla has moved its Bitcoin investment.
The wallets have been divided into amounts of between 1,100 and 2,200 BTC each, as follows:
1Fnhp – 2,109.3 BTC ($142.2 million)
1LERL – 1,900 BTC ($128.1 million)
1D6Vh – 1,800 BTC ($121.3 million)
16QZn – 1,700 BTC ($114.6 million)
1QC2z – 1,600 BTC ($107.8 million)
1Phab – 1,300 BTC ($87.6 million)
1MGM8 – 1,100 BTC ($74.1 million)
This move could be related to custodial measures or even the possibility of backing a loan using Bitcoin.
Tesla initially purchased $1.5 billion worth of Bitcoin in January 2021, but then sold about $272 million in the same year and another $936 million in 2022. Tesla is currently the fourth-largest corporate owner of Bitcoin.
As for Bitcoin transactions, Tesla briefly enabled BTC payments in 2021 but stopped this option due to environmental concerns. Musk stated that he might reconsider this alternative if Bitcoin mining becomes more environmentally friendly.
What do you think? $BTC
