Tesla still holds 11,509 BTC, despite speculation last week about the mass movement of its Bitcoin holdings.
Tesla’s Wallet Rotation Explained
Analytics firm Arkham Intelligence clarified that Tesla’s Bitcoin movement was part of a "wallet rotation," meaning the BTC was simply transferred to new wallets. This rotation was the first time Tesla had interacted with its Bitcoin wallets since selling a portion of its holdings in 2022.Speculation of a Custodian Move
Some speculated that Tesla might be preparing to sell its Bitcoin or transfer it to a custodian for a loan. However, Arkham’s analysis indicates that Tesla still owns the same amount of BTC, valued at approximately $776.9 million.Tesla’s Bitcoin Holdings and Market Position
Tesla’s Bitcoin investments have made headlines since its initial $1.5 billion purchase in 2021. Currently, Tesla ranks as the fourth-largest corporate holder of Bitcoin, behind companies like MicroStrategy and Marathon Digital. The company’s next earnings call is expected to shed more light on its future Bitcoin strategy.
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