Bitcoin: 4 Reasons Why Elon Musk’s Tesla Moved $760M BTC
For the first time in two years, Elon Musk’s Tesla has transferred all of its $760 million worth of Bitcoin assets from its public wallet. According to Arkham Intelligence data revealed Wednesday, the firm carried out multiple transactions to move its holdings out of its existing wallet. The move caused the BTC market to stir, with the asset reaching $67,0000 shortly after. Tesla transferred $75.18 million, $76.08 million, and $77.16 million in the first three significant transactions. This reportedly happened in quick succession. While the firm sent $76.08 million and $77.16 million to the same anonymous wallet, Tesla transferred $75.18 million to another unidentified wallet. So far, none of the Tesla Bitcoin have made it to exchange wallets or were swapped for stablecoins. This raises the question of why the Musk-founded company decided to make this move after two years of hoddling. The electric carmaker as of the time of the move was the fourth-largest corporate holder of bitcoin,