{"id":39637,"date":"2024-10-16T11:45:56","date_gmt":"2024-10-16T11:45:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/elon-musks-tesla-transfers-bitcoin-worth-770m-to-new-addresses\/"},"modified":"2024-10-16T11:45:56","modified_gmt":"2024-10-16T11:45:56","slug":"elon-musks-tesla-transfers-bitcoin-worth-770m-to-new-addresses","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/elon-musks-tesla-transfers-bitcoin-worth-770m-to-new-addresses\/","title":{"rendered":"Elon Musk\u2019s Tesla transfers Bitcoin worth $770M to new addresses"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/08_Tesla-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/08_Tesla-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/08_Tesla-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/08_Tesla-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Tesla relocated 11,509 bitcoins, valued at $770 million, to new addresses.<\/li>\n<li>This marks Tesla\u2019s first Bitcoin transaction since selling most holdings in 2022.<\/li>\n<li>Tesla remains the third-largest Bitcoin holder among public companies after MicroStrategy.<\/li>\n<\/ul>\n<p>Tesla, the electric vehicle giant led by Elon Musk, has recently relocated its entire Bitcoin (BTC) treasury, consisting of 11,509 bitcoins valued at approximately $770 million, to multiple new addresses.<\/p>\n<p>This significant move was reported by analytics firm Arkham Research, which tracked the <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/tesla\">on-chain data<\/a> associated with the transactions.<\/p>\n<h2>First time Tesla is touching its Bitcoin stockpile<\/h2>\n<p>The transfer of bitcoins marks Tesla\u2019s first interaction with its crypto wallets since 2022 when the company sold off the majority of its holdings.<\/p>\n<p>The series of transactions occurred within a single hour and was preceded by six test transactions, indicating a strategic approach to the relocation.<\/p>\n<p>At its peak, Tesla held around 43,000 bitcoins, but according to the latest quarterly\u00a0<a href=\"https:\/\/digitalassets.tesla.com\/tesla-contents\/image\/upload\/IR\/TSLA-Q4-2023-Update.pdf\">report<\/a>, the company reportedly had about 9,720 BTC, worth roughly $650 million as of October 15.<\/p>\n<p>Arkham estimates that Tesla still holds 11,509 bitcoins across 68 addresses, reflecting a significant adjustment in its cryptocurrency strategy.<\/p>\n<p>Tesla\u2019s past dealings with Bitcoin have been noteworthy. In early 2021, the company made headlines with a monumental <a href=\"https:\/\/coinjournal.net\/news\/markets-and-investors-react-to-teslas-1-5bn-btc-investment\/\">$1.5 billion investment<\/a> in the cryptocurrency, followed by the sale of $272 million worth of bitcoin in the first quarter of 2021, resulting in a profit of $128 million.<\/p>\n<p>By the second quarter of 2022, <a href=\"https:\/\/coinjournal.net\/news\/tesla-sold-75-of-its-bitcoin-holdings-while-retaining-all-of-its-dogecoin\/\">Tesla sold another $936 million in Bitcoin<\/a>, garnering $64 million in gains as the market experienced volatility.<\/p>\n<p>Despite these transactions, the recent move to new addresses raises questions about Tesla\u2019s future plans for its Bitcoin holdings. Industry speculation suggests that the company might be preparing for further sales, although no official statements have clarified the intent behind the recent transfer.<\/p>\n<p>As of now, Tesla remains the third-largest holder of Bitcoin among publicly traded companies, trailing behind MicroStrategy and Marathon Digital Holdings (MARA).<\/p>\n<p>Additionally, Musk\u2019s other company, SpaceX, is estimated to hold around 8,285 bitcoins, further emphasizing the significant role cryptocurrency plays in the operations of Musk\u2019s enterprises.<\/p>\n<p>Notably, Tesla continues to accept BTC payments for vehicle purchases, signalling its ongoing engagement with the cryptocurrency landscape.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/elon-musks-tesla-transfers-bitcoin-worth-770m-to-new-addresses\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Tesla relocated 11,509 bitcoins, valued at $770 million, to new addresses. This marks Tesla\u2019s first Bitcoin transaction since selling most holdings in 2022. Tesla remains the third-largest Bitcoin holder among public companies after MicroStrategy. Tesla, the electric vehicle giant led by [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":39638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39637"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=39637"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39637\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/39638"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=39637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=39637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=39637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}