Tesla moves $760 million in Bitcoin; Here’s what you need to know
Though Tesla’s (NASDAQ: TSLA) history with Bitcoin (BTC) mostly ended in July 2022, when the electric vehicle (EV) maker sold about 75% of its cryptocurrency, it experienced an unexpected revival on October 15 and 16, 2024. Specifically, Tesla started moving vast quantities of BTC to previously unknown addresses on the afternoon of October 15 and had, across a total of 26 transactions, transferred some $760 million worth of the coin, per the data retrieved from Arkham Intelligence. Tesla’s BTC transfers. Source: @ArkhamIntel The transfers – which involve virtually all of Tesla’s remaining 11,510 Bitcoins – quickly drew the crypto community’s attention and sparked speculation on the EV maker’s intentions. Picks for you Recession panic fades; Are investors underestimating risks ahead? 49 mins ago