{"id":1530,"date":"2024-10-23T06:31:40","date_gmt":"2024-10-23T06:31:40","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1530"},"modified":"2024-10-23T06:31:40","modified_gmt":"2024-10-23T06:31:40","slug":"tesla-did-not-sell-its-11509-bitcoin-on-chain-data-reveals","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1530","title":{"rendered":"Tesla Did Not Sell Its 11,509 Bitcoin, On-Chain Data Reveals"},"content":{"rendered":"
\n

On-chain data indicates that Tesla Inc. has retained its entire Bitcoin holdings, dispelling recent speculation about a potential sale. Last week, blockchain analytics firm Arkham Intelligence reported<\/a> that Tesla had transferred its entire stash of 11,509 BTC\u2014currently valued at over $776 million\u2014to new, unidentified wallets.<\/p>\n

This substantial movement led to widespread conjecture that Elon Musk\u2019s Tesla might be divesting its Bitcoin assets once again. However, Arkham Intelligence has updated its findings, suggesting that the transfers were internal and that Tesla still owns the Bitcoin.<\/p>\n

Tesla Retains All 11,509 Bitcoin<\/h2>\n

In a statement<\/a> on X, Arkham clarified: \u201cWe believe that the Tesla wallet movements that we reported on last week were wallet rotations with the Bitcoin still owned by Tesla. Tesla moved their entire balance of 11,509 BTC ($776.9M) to new wallets.\u201d<\/p>\n

The firm found that the coins were redistributed across seven wallets. Each wallet received test transactions, and all but one hold a round number of BTC, suggesting a strategic repositioning rather than liquidation. \u201cThe Bitcoin has been split between 7 wallets holding 1,100 and 2,200 BTC. All holding wallets received test transactions and all but one hold a round number of BTC,\u201d Arkham writes via X.<\/p>\n

Tesla\u2019s BTC is currently held at the following wallet addresses: 1Fnhp \u2013 2,109.3 BTC ($142.2 million), 1LERL \u2013 1,900 BTC ($128.1 million), 1D6Vh \u2013 1,800 BTC ($121.3 million), 16QZn \u2013 1,700 BTC ($114.6 million), 1QC2z \u2013 1,600 BTC ($107.8 million), 1Phab \u2013 1,300 BTC ($87.6million) and 1MGM8 \u2013 1,100 BTC ($74.1 million).<\/p>\n

\"Tesla<\/p>\n

Arkham added: \u201cSome have speculated that this is movement to a custodian, for example to secure a loan against the BTC.\u201d The speculation that Tesla might be transferring its BTC to a custodian to secure a loan aligns with practices of corporations leveraging crypto assets for liquidity without selling them outright.<\/p>\n

The timing of these developments is particularly noteworthy. Tesla is scheduled to report its next earnings today, October 23, 2024, after market close (23:30 CEST). The upcoming earnings call could provide further insights into Tesla\u2019s BTC strategy and the rationale behind the recent wallet activities.<\/p>\n

Adding a layer of historical context, yesterday, October 22, marked the sixth anniversary of Elon Musk\u2019s first public endorsement of Bitcoin on X. Six years ago, the BTC price was as low as $6,400. On that day in 2018, Musk playfully engaged with followers by sharing an image and commenting, \u201cWanna buy some Bitcoin?\u201d Since then, BTC has surged by over 1,000%.<\/p>\n

\n

\"\u2728\" Elon Musk telling you to buy #Bitcoin<\/a> at $6,000, exactly 6 years ago.<\/p>\n

Up 1,000% ever since \"\ud83d\udcab\" pic.twitter.com\/1UqsyODZqv<\/a><\/p>\n

\u2014 The Bitcoin Historian (@pete_rizzo_) October 22, 2024<\/a><\/p>\n<\/blockquote>\n

Tesla\u2019s relationship with Bitcoin has been dynamic. In February 2021, the company made headlines<\/a> by purchasing $1.5 billion worth of BTC, as disclosed in a filing with the Securities and Exchange Commission (SEC). This move positioned Tesla as one of the largest corporate holders of BTC.<\/p>\n

However, in the second quarter of 2022, Tesla converted<\/a> 75% of its BTC holdings into fiat currency. The decision was attributed to liquidity concerns stemming from COVID-19 lockdowns in China. The sale amounted to approximately $936 million, as reported in Tesla\u2019s quarterly earnings.<\/p>\n

At press time, BTC traded at $67,083.<\/p>\n

\"Bitcoin<\/div>\n","protected":false},"excerpt":{"rendered":"

On-chain data indicates that Tesla Inc. has retained its entire Bitcoin holdings, dispelling recent speculation about a potential sale. Last week, blockchain analytics firm Arkham Intelligence reported that Tesla had transferred its entire stash of 11,509 BTC\u2014currently valued at over $776 million\u2014to new, unidentified wallets. This substantial movement led to widespread conjecture that Elon Musk\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1530","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1530"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1530\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}