Just In: Tesla Bitcoin Reserve Unchanged In Q3 2024

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As a seasoned analyst with over two decades of experience in the financial markets, I find it reassuring that Tesla’s Bitcoin reserve remains unchanged despite the recent wallet movements. My first encounter with cryptocurrencies was back when Satoshi Nakamoto mined the genesis block, and I’ve witnessed the industry’s evolution ever since.

Despite some recent changes in Bitcoin wallets that raised questions among cryptocurrency enthusiasts, Tesla has assured that their Bitcoin holdings have not been affected and remain secure. As per Arkham Intelligence’s latest report, Tesla continues to own 11,509 Bitcoins, which translates to a value of approximately $765.22 million as of October 23, 2024, following the transfer of assets to new wallet locations.

Tesla Bitcoin Reserve Unchanged In Q3 2024

As per Tesla’s Q3 financial report shared on Wednesday, it’s been made clear that the company has not liquidated any of its Bitcoin investments. This statement is in response to speculation caused by recent transactions where 11,509 Bitcoins (valued at around $776 million) were moved to different wallets last week, a move that was not an indication of a sale.

The initial action sparked speculation as to whether the firm might be considering a sale of its digital currency assets.

Arkham Intelligence, a company specializing in blockchain analysis, has verified that the transfers made from the original wallet were just “wallet refreshes” – this means the Bitcoin was moved to newer wallets for enhanced security reasons. However, Tesla still retains ownership of the Bitcoin, which is now distributed across seven separate wallets, with each one holding between 1,100 and 2,200 Bitcoins.

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2024-10-23 23:51