Arkham: Tesla might still hold 780 million dollars in Bitcoin
According to a blockchain analysis company, despite Tesla transferring all its funds into an unidentified wallet on October 15th, the company may still possess its entire Bitcoin reserve worth $780 million. Arkham data shows that since October 15th, these wallets have not moved any Bitcoin funds. Although it is currently unclear why Tesla made the transfer, Arkham pointed out that some observers speculate that these funds might be moving to custodial institutions which could allow Musk's company to obtain loans using Bitcoin as collateral. Tesla executives may reveal their plans for Bitcoin during the third quarter earnings call after market close on October 23rd.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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