Tesla, the electric vehicle company led by Elon Musk, has not sold any of its $780 million worth of Bitcoin, despite recent movements of its holdings, according to blockchain analytics firm Arkham Intelligence. Last week, Tesla transferred nearly its entire Bitcoin stash, amounting to 11,509 BTC, into new wallets, sparking concerns of a potential liquidation. However, Arkham confirmed that the Bitcoin remains in Tesla’s possession, as none of the coins have been transferred to exchanges.

The movements, which caused short-term market volatility, spread across several wallets, with the three largest wallets now holding between $121 million and $142 million in Bitcoin. Arkham speculated that the reorganization could be part of routine wallet management, consolidation, or securing loans against the Bitcoin

Tesla has not commented on the transfer, but the company’s Q3 2024 earnings report, released on October 23, showed no change in its Bitcoin holdings. Tesla’s financial disclosures reveal that it has not sold any Bitcoin for five consecutive quarters, maintaining its position since its initial $1.5 billion BTC purchase in early 2021.

Tesla’s Q3 financials also reported revenue of $25.18 billion, with a net income of $2.18 billion. The company’s decision to retain its Bitcoin holdings continues to draw interest from investors, as publicly traded companies holding Bitcoin are closely monitored for potential market impact.

This latest development follows Arkham Intelligence's reports that Tesla moved Bitcoin from wallets that had been inactive since 2022, further stoking speculation about the company’s intentions. For now, Tesla's substantial Bitcoin holdings remain intact, and the market will continue to watch closely for any potential changes.

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