- Tesla moves $760 million in Bitcoin, raising market speculation.
- First Bitcoin transaction by Tesla in over 2 years.
- The transaction comes after $TSLA stock fluctuated, losing nearly 10% over the past week.
Mega vehicle and clean energy company Tesla has just moved its Bitcoin holdings for the first time in years. According to a report from ArkhamIntel on Twitter… or X, Tesla recently moved the entirety of its $760 million holdings in BTC to new addresses.
So far no one knows if Tesla plans to sell that amount of Bitcoin – but the fact that this asset movement comes just moments after $BTC regained the $65,000 level after a near 7% weekly growth is enough to raise suspicion. However, simply moving the assets to a different wallet doesn’t necessarily mean a selloff.
This is the first time Tesla made a bitcoin transaction in over 2 years. Despite the uncertainty regarding this case, Tesla’s strategic preparation for future market shifts
Tesla Shares Down This Week
Adding to the suspicion, $TSLA stock went down by a significant margin over the past couple of days. Following the event in which Elon Musk presented the new “CyberCab” – the asset plummeted by 6% on the same day – indicating that investor confidence may have been shaken.
Since then, $TSLA has been able to maintain its level and even gained 0.4% over the past 24 hours, currently at $219.57. However, the week-long chart is not so kind as it shows that the asset lost nearly 10% over the past 7 days.
