Elon Musks Tesla transfers Bitcoin worth $ 770 million to new addresses

• Tesla has postponed 11,509 bitcoins worth $ 770 million to new addresses.
• This is Tesla's first Bitcoin transaction since the sale of most shares in 2022.
According to Microstrategy,
• Tesla remains the third largest Bitcoin holder among the listed companies.

Tesla, the electric vehicle led by Elon Musk, recently shifted its entire Bitcoin (BTC) treasure, consisting of 11,509 bitcoins worth around $ 770 million, to several new addresses.

This significant step was reported by the analysis company Arkham Research, which is pursued on-chain data

for the first time Tesla touches his Bitcoin supply

The transfer of Bitcoins marks Tesla's first interaction with its crypto wallets since 2022 when the company sold most of its shares.

The transaction series took place within an hour and was promoted by six test transactions, which indicates a strategic approach in relocation.

At the climax, Tesla kept around 43,000 bitcoins, as can be seen from the latest quarterly report report According to reports, the company had around 9,720 BTC worth around 650 million US dollar.

Arkham estimates that Tesla still holds 11,509 bitcoins of 68 addresses, which reflects a significant adaptation of its cryptocurrency strategy.

Tesla's earlier business with Bitcoin were remarkable. At the beginning of 2021, the company made headlines with a monumental investment of $ 1.5 billion in cryptocurrency, followed by the sale of Bitcoin worth $ 272 million in the first quarter of 2021, which led to a profit of $ 128 million

by the second quarter of 2022, Tesla sold another $ 936 million in Bitcoin and achieved a profit of $ 64 million because the volatility market was characterized.

Despite these transactions, the recent change to new addresses raises questions about Tesla's future plans for his Bitcoin stocks. Industry speculations indicate that the company may be preparing for further sales, although no official explanations have clarified the intention behind the recent transmission.

At the moment, Tesla is still the third largest Bitcoin holder among the listed companies, behind Microstrategy and Marathon Digital Holdings (Mara).

In addition, Musk's other company, SpaceX, holds an estimated 8,285 bitcoins, which further underlines the important role of cryptocurrency in the company of Musk's company.

In particular, Tesla continues to accept BTC payments for vehicle purchases, which signals its persistent commitment in the cryptocurrency landscape.