Key Takeaways
- Arkham claims that Tesla sent Bitcoin to seven different addresses.
- Analysts found that Tesla had moved $770 million worth of cryptocurrency assets to new wallets.
- On October 24, Tesla will issue its Q3 2024 financial report.
As of right now, Tesla (TSL) has 11,509 Bitcoin (BTC) split among seven wallets, according to Arkham experts.
This is equivalent to $770 million at the current pricing of $66,500 per bitcoin.
Tesla transferred its cryptocurrency holdings to new wallets this week, giving the greatest portion—2,109.3 BTC—to one address, 1Fnhp.
Does Tesla Have Bitcoin Anymore?
Arkham announced on October 16 that 11,509 bitcoins, which had been connected to Tesla, had been transferred to new addresses. The transfer was valued at $760 million at the time.
Before the current shift, these funds had been inactive for almost two years, which led some to hypothesize that Tesla may have rearranged its cryptocurrency holdings in advance of its October 24 Q3 financial report.
Tesla still has Bitcoin, according to Arkham’s most recent research, though it’s unclear why the business split it over seven addresses.
Tesla’s Activity Has No Effect on the Price of Bitcoin
The price of Bitcoin stayed stable at $66,500 in spite of the $770 million in BTC movement.
This is comparable to what occurred on October 16, when Arkham first revealed Tesla’s move, and the price of Bitcoin likewise stayed unchanged.
Even though Tesla’s Bitcoin transactions didn’t have a big effect on the market, Elon Musk continues to have a big influence on cryptocurrency developments.
For example, Musk made reference to the “Department of Government Efficiency” (D.O.G.E.) in a speech that had nothing to do with Dogecoin on October 18.
In reaction, DOGE’s price rose 33% in just one week.
If you are interested in meme currencies, there is another popular coin that is currently making waves on X.
Pepe Unchained is a layer-2 token with blazingly quick transactions. It claims to be 100 times faster than Ethereum and to have cheaper gas prices. Staking $PEPU, which garnered over $11 million in a very successful presale, can provide you with interesting cryptocurrency chances.
