Elon Musk’s Tesla Still Holding $772,500,000 in Bitcoin in Seven Wallets After Massive Coin Shuffle: Arkham

Electrical automobile large Tesla doubtless nonetheless has $772.5 million price of Bitcoin (BTC) in its possession, based on crypto deanonymization platform Arkham.

Final week, Arkham highlighted a collection of on-chain transactions, exhibiting that Tesla had moved its 11,509 BTC treasure for the primary time in two years.

Nevertheless, the receiving addresses seem like new wallets owned by Tesla, the paper mentioned crypto platform.

“The Bitcoin is split over 7 wallets with 1100 and 2200 BTC. All wallets acquired check transactions and all however one contained a spherical variety of BTC.

Tesla’s BTC is at present held at:
1Fnhp – 2109.3 BTC ($142.2 million)
1LERL – 1900 BTC ($128.1 million)
1D6Vh – 1800 BTC ($121.3 million)
16QZn – 1700 BTC ($114.6 million)
1QC2z – 1600 BTC ($107.8 million)
1Phab – 1300 BTC ($87.6 million)
1MGM8 – 1100 BTC ($74.1 million)

Some have speculated that it is a transfer to a custodian, for instance to safe a mortgage in opposition to the BTC.”

Tesla purchased $1.5 billion price of Bitcoin in January 2021 and bought $272 million price of BTC that very same 12 months and one other $936 million price of BTC in 2022.

By market capitalization, the automotive firm is at present the fourth largest enterprise proprietor of the highest crypto asset BitcoinTreasuries.net.

In 2021, Tesla additionally briefly allowed prospects to pay for purchases with BTC, however the firm eliminated this function later that very same 12 months, citing local weather considerations associated to Bitcoin mining. Tesla CEO Elon Musk mentioned on the time that the corporate would doubtless resume accepting Bitcoin funds as soon as the mining course of turned extra environmentally pleasant.

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Generated picture: Midjourney