Tesla Still Owns its $780M in Bitcoin: Arkham Intelligence

Despite rumors of a potential sale or liquidation, electric vehicle company Tesla still appears to hold its entire Bitcoin investment, which is currently valued at $780 million.

This comes after the company transferred the funds to unknown wallets earlier this month.

According to blockchain analytics firm Arkham Intelligence, the recent wallet movements were likely just routine rotations, rather than a sign of a sell-off. In fact, their data suggests that Tesla still owns all of the Bitcoin that was transferred.

On October 15, Tesla divided its 11,509 Bitcoin into seven separate wallets, with each holding between 1,100 and 2,200 BTC, according to Arkham’s observations. The two largest wallets, named “1Fnhp” and “1LERL,” received the most significant portions, with a value of $142.2 million and $128.1 million, respectively.

Initially, this large-scale movement caused speculation on social media platforms like Twitter, with some speculating that Tesla may dump its holdings on the market.