According to Blockchain Analytics, even though Tesla moved all the funds into unidentified wallets on October 15, the company may still have its entire bitcoin reserves worth $780 million. Arkham data shows that these wallets have not moved any bitcoin funds since October 15.
Although it is not clear why Tesla made the transfer, Arkham pointed out that some observers have speculated that the funds may be being transferred to custodians, which could allow Musk's company to obtain loans with bitcoin as collateral.
Tesla executives are likely to reveal their plans for bitcoin during a third-quarter earnings call after the market closes on October 23.
Arkham: Tesla May Still Hold $780 million Bitcoin
2024-10-23 00:51:51
According to District Analysis Company Despite Tesla 1015 Fundingdesk3cryptocurrencydesktopCrypto News
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