The Truth Behind Tesla’s $700 Million Bitcoin Transfer Revealed! Or Did They Sell It?

Crypto even onchain tracking platform Arkham recently sold hundreds of millions of Bitcoin’i He explained the truth behind this move of Tesla, which caused sales speculation in the market.

According to Arkham analysts, the wallet movements carried out by Tesla were merely wallet rotations and these Bitcoins still belong to Tesla.

The company transferred all its assets, consisting of $ 776.9 million worth of BTC, to new cryptocurrency wallets.

As a result of the transfer, BTC assets were distributed into seven separate wallets holding assets between 1100 and 2200 BTC. As a result of these transfers, test transfers were made for all cryptocurrency wallets in the first place, and all wallets except one were brought to the position of holding an integer amount of BTC.

The current distribution of Tesla’s Bitcoins according to the short address of the new wallets is as follows:

• 1Fnhp – 2109.3 BTC ($142.2 million)
• 1LERL – 1900 BTC ($128.1 million)
• 1D6Vh – 1800 BTC ($121.3 million)
• 16QZn – 1700 BTC ($114.6 million)
• 1QC2z – 1600 BTC ($107.8 million)
• 1Phab – 1300 BTC ($87.6 million)
• 1MGM8 – 1100 BTC ($74.1 million)

As a result, Arkham believes that these Bitcoin assets were not sold, but merely a wallet arrangement, and that the assets still belong to Tesla.

However, the certainty of the situation will be understood when the next Tesla balance sheet is announced.

*This is not investment advice.