For the first time in two years, Tesla (TSLA.US) has moved its Bitcoin holdings, worth $765 million.
1min read According to the cryptocurrency website decrypto, Tesla (TSLA.US) has moved its Bitcoin holdings for the first time in two years, although there are no indications that the company is selling the cryptocurrency, but it has transferred about $765 million worth of Bitcoin to an unknown wallet. The wallet seems to be new and it is unknown if it is associated with a cryptocurrency exchange.
In February 2021, Tesla announced that it had bought $1.5 billion worth of Bitcoin and sold 10% of its holdings in the second quarter of 2021. In July 2022, Tesla sold 75% of the remaining Bitcoin holdings. Since then, Tesla has continued to hold the remaining Bitcoin. The current price of Bitcoin is about $66,500.
Aside from buying and selling Bitcoin, Tesla has a complex relationship with the cryptocurrency. In 2021, Tesla said it would accept Bitcoin payments, but two months later, Musk suspended the initiative due to the environmental impact of Bitcoin mining. Musk also said that the company would consider resuming accepting Bitcoin payments once most of the Bitcoin mining is powered by green energy, but the company has not done so yet. In addition, Musk is a big fan of Dogecoin.