Electric vehicle giant Tesla is believed to still hold its entire Bitcoin investment, valued at $780 million, despite transferring the funds to unknown wallets earlier this month.
According to blockchain analytics firm Arkham Intelligence, the movements are likely part of routine wallet rotations, rather than a sale or liquidation.
“We believe that the Tesla wallet movements that we reported on last week were wallet rotations with the Bitcoin still owned by Tesla,” Arkham Intelligence said in a recent post on X.
Tesla Split its Bitcoin Holdings Across Seven Wallets
On October 15, Tesla split its 11,509 Bitcoin across seven new wallets, each holding between 1,100 and 2,200 BTC, as observed by Arkham.
The two largest wallets, labeled “1Fnhp” and “1LERL,” received the most significant portions, valued at $142.2 million and $128.1 million, respectively.
The large-scale movement initially triggered concerns of a possible market dump, igniting speculation on social media platforms like X.
