Amid the ongoing price correction across the cryptocurrency market, Elon Musk’s Tesla has just moved a substantial amount of Bitcoin (BTC) to an unknown wallet. On October 16, 2024, the on-chain intelligence firm Arkham made a post on X (Previously Twitter) that the giant electric car manufacturer, Tesla had just moved 11,500 BTC worth $760 million.
Is Tesla Selling its BTC Holdings?
This significant BTC transfer has raised concerns about whether Tesla is selling its BTC holdings or what they plans to do next. However, this is the first time in the past two years that Tesla has moved its BTC holdings. According to the data, Tesla is the fourth-largest BTC holder following MicroStrategy, mining firm Marathon Digital, and Riot Platform.
Following this significant BTC transaction, Tesla hasn’t published any comments. However, despite this notable BTC transfer, asset prices remained stable and no major changes were witnessed on the exchanges nor was there any dumping from major whales.
BTC Current Price Momentum
At press time, BTC is trading near $66,880 and has experience
