{"id":17803,"date":"2024-10-16T10:14:54","date_gmt":"2024-10-16T07:14:54","guid":{"rendered":"https:\/\/forklog.com\/en\/tesla-transfers-760-million-in-bitcoin-to-unknown-addresses\/"},"modified":"2024-10-16T10:14:54","modified_gmt":"2024-10-16T07:14:54","slug":"tesla-transfers-760-million-in-bitcoin-to-unknown-addresses","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tesla-transfers-760-million-in-bitcoin-to-unknown-addresses\/","title":{"rendered":"Tesla Transfers $760 Million in Bitcoin to Unknown Addresses"},"content":{"rendered":"<p>Elon Musk&#8217;s Tesla has transferred all its 11,509 BTC, valued at approximately $760 million, to unknown addresses, according to Arkham Intelligence data.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">TESLA JUST MOVED ANOTHER $260M BTC<\/p>\n<p>TOTAL MOVED: $760M <a href=\"https:\/\/t.co\/ukAcHW1EZC\">pic.twitter.com\/ukAcHW1EZC<\/a><\/p>\n<p>\u2014 Arkham (@ArkhamIntel) <a href=\"https:\/\/twitter.com\/ArkhamIntel\/status\/1846305722205696079?ref_src=twsrc%5Etfw\">October 15, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasuries<\/a>, the electric vehicle manufacturer is the fourth-largest corporate holder of the leading cryptocurrency, with 9720 BTC attributed to the company.<\/p>\n<p>In February 2021, it was revealed that Tesla had invested $1.5 billion in bitcoin. Musk described these investments as &#8220;fairly risky.&#8221;<\/p>\n<p>Later that year, the firm began accepting bitcoin for car purchases but subsequently discontinued this option.<\/p>\n<p>By the end of the second quarter of 2022, Tesla had converted approximately 75% of its cryptocurrency holdings into fiat, yielding $936 million. The profit from this operation amounted to $64 million. Considering a negative revaluation of bitcoin holdings amounting to $204 million, the firm reported a net loss of $140 million.<\/p>\n<p>One user speculated that the recent cryptocurrency transfers by the company are related to a shift towards self-custody. He noted that the format of the new addresses suggests this.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">This is not selling, it is more likely taking direct custody of the coins, which would signal a reactivation of btc payments.<\/p>\n<p>The tell is the legacy address format, which exchanges don&#8217;t use anymore for coins that are going to be tx&#8217;ed in the near term.<\/p>\n<p>\u2014 Trygg.btc ??\u200d\u2642\ufe0f (@TryggBTC) <a href=\"https:\/\/twitter.com\/TryggBTC\/status\/1846306537956168184?ref_src=twsrc%5Etfw\">October 15, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This is not selling,&#8221; he confidently stated.<\/p>\n<\/blockquote>\n<p>According to Arkham, Coinbase Prime Custody served as the custodian for Tesla&#8217;s bitcoin reserves.<\/p>\n<p>Musk&#8217;s space company, SpaceX, continues to <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/spacex\">hold<\/a> 8285 BTC in the service&#8217;s wallets.<\/p>\n<p>In January 2024, during a podcast with ARK Invest CEO Cathie Wood, the entrepreneur <a href=\"https:\/\/u1f987.com\/en\/news\/cathie-wood-reveals-her-bitcoin-investment-strategy\">admitted<\/a> that among cryptocurrencies, he personally owns only &#8220;a large amount of Dogecoin.&#8221;<\/p>\n<p>In February, SpaceX <a href=\"https:\/\/u1f987.com\/en\/news\/spacex-accepts-dogecoin-payment-for-launching-doge-1-satellite\">accepted payment<\/a> in the meme coin for launching the DOGE-1 satellite into space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk&#8217;s Tesla has transferred all its 11,509 BTC, valued at approximately $760 million, to unknown addresses, according to Arkham Intelligence data. TESLA JUST MOVED ANOTHER $260M BTC TOTAL MOVED: $760M pic.twitter.com\/ukAcHW1EZC \u2014 Arkham (@ArkhamIntel) October 15, 2024 According to BitcoinTreasuries, the electric vehicle manufacturer is the fourth-largest corporate holder of the leading cryptocurrency, with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1217,1319],"class_list":["post-17803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-elon-musk","tag-tesla"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17803"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17802"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}