Tesla Transfers Entire $765M Bitcoin Stash to Unknown Wallets
- Tsl trnsfrrd its ntir Bitcoin holdings, vlud ovr $765 million, to unknown wllts.
- Spcultion riss s Tsls Bitcoin ctivity follows long priod of dormncy sinc Jun 2022.
- Anlysts mintin bullish outlook, citing potntil pric surgs dspit Tsls ctions.
Th lctric vhicl gint Tsl md surprising mov on Octobr 15th, trnsfrring its ntir Bitcoin holdings, vlud t ovr $765 million, to sris of unknown wllts. This suddn ctivity, following priod of dormncy sinc Jun 2022, hs sprkd spcultion within th cryptocurrncy community.
According to dt from Arkhm Intllignc, Tsl inititd 26 trnsctions, including tst trnsfrs, to mov its ntir stsh, consisting of 11,500 BTC. Th first trnsfr occurrd on Octobr 15th t 8:41 PM UTC, lving th originl wllt with mr $6.68 worth of Bitcoin.
Th purpos bhind ths trnsfrs rmins unclr. Thrs no vidnc of th Bitcoin bing snt to cryptocurrncy xchngs, indicting potntil sl might not b on th tbl. Tsl hs lso rmind silnt on ny plns to offlod its digitl ssts.
Teslas Rollercoaster Ride with Bitcoin
Tsls rltionship with Bitcoin hs bn rollrcostr rid. Th compny first dippd its tos into th crypto pool in Fbrury 2021 with significnt $1.5 billion purchs. Howvr, this nthusism ws short-livd. Tsl bgn slling its holdings th following month, offloding totl of 33,480 BTC cross two trnsctions.
Adding nothr lyr of intrigu, Tsl CEO Elon Musk, vocl dvoct for cryptocurrncy t tims, brifly llowd Bitcoin pymnts for Tsl vhicls in Mrch 2021. This dcision ws rvrsd just fw wks ltr, citing nvironmntl concrns rltd to Bitcoin mining.
Howvr, Musks connction to cryptocurrncy dosnt nd thr. His rospc compny, SpcX, rmins significnt Bitcoin holdr, currntly possssing ovr $553 million worth of digitl ssts.
Bitcoins Price Outlook Remains Optimistic
Dspit th uncrtinty surrounding Tsls motivs, th immdit impct on BTCs pric pprs mutd. As of Octobr 16, BTC is trding t $67,187, rflcting 2.32% incrs ovr th lst 24 hours, with trding volum surging to $49.48 billion, up 25.80%.
Mrkt nlysts rmin unfzd by rcnt mrkt fluctutions. Ki Young Ju, CEO of CryptoQunt, blivs th mrkt impct from potntil sl by Tsl would b lss significnt comprd to pst lrg-scl sls, such s th Grmn govrnmnts. Whil Tsl could mk $515 million profit, this flls short of th $816 million profit rnd by th Grmn govrnmnt.
Som nlysts fors bullish outlook for BTC. Michël vn d Popp, wll-known crypto xprt, xprssd confidnc tht th cryptocurrncy rmins on trck to rch nw highs. H prdicts tht ftr brif consolidtion, th cryptocurrncy could xprinc substntil pric incrs.
Anothr xprt, Eljboom, pointd to tchnicl indictor suggsting n upcoming pric surg. H mphsizd th formtion of cup-nd-hndl pttrn on th BTC/USD chrt, stup historiclly ssocitd with significnt pric brkouts. If it succssfully brks out, Eljboom wrns tht brish trdrs could fc significnt losss.
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Text source: TronWeekly
