#Arkham : #Tesla Likely Still Holds $780M in #BTC☀ Despite Recent Transfers
Tesla's massive Bitcoin transfers initially sparked fears of a market crash, but data from Arkham suggests the assets remain under the company's control.
Electric carmaker Tesla likely still holds its entire Bitcoin stash, valued at $780 million, despite having transferred all the funds to unidentified wallets on Oct. 15, according to a blockchain analytics firm.
“We believe the Tesla wallet movements we reported last week were wallet rotations, with the Bitcoin still held by Tesla,” Arkham Intelligence said in an X post on Oct. 22.
On Oct. 15, Tesla split the 11,509 Bitcoin between seven wallets, each containing between 1,100 and 2,200 BTC, according to Arkham. Wallet addresses “1Fnhp” and “1LERL” received the largest batches, valued at $142.2 million and $128.1 million, respectively.
