Elon Musk’s company Tesla made a significant move with its bitcoin (BTC) reserve, redistributing its 11,509 coins into new wallets. This event, analyzed by the intelligence firm Arkham, confirms that Tesla continues to own all of its assets.
According to the arkham reportthe 11,509 BTC, valued at approximately $776.9 million, have been divided between seven new wallets. These wallets contain between 1,100 and 2,200 BTC each.
The movement of these funds, which total 765 million dollars, was carried out in 26 transactions, including test transfers. Arkham ruled out that bitcoins have been sent to cryptocurrency exchangesand Tesla has not publicly revealed any plans to divest its crypto assets.
“Some have speculated that this is a move towards a custodian, for example, to secure a loan against BTC,” says Arkham. This suggests a more complex financial strategy on Tesla’s partpossibly related to obtaining liquidity without needing to sell your digital assets.
Tesla is currently positioned as one of the companies with the largest accumulation of bitcoinfollowing leaders such as MicroStrategy and miners Marathon and Riot Platforms. This move by Tesla towards multiple wallets could indicate a risk diversification strategy or an improvement in its asset management.
It’s important to remember that Tesla made history by investing $1.5 billion in bitcoin in 2021, a move that helped the digital currency reach new highs that year. Since then, the company has maintained a firm stance on its investments, reflecting long-term confidence in the value of bitcoin.
This article was created using artificial intelligence and edited by a human Editor.
