Tesla Still Holds $776 Million in Bitcoin, No Sales Made
23.10.2024 14:30 1 min. read Kosta Gushterov
Tesla still holds about $776 million in Bitcoin, according to a recent report from Arkham Intelligence.
Earlier this month, Tesla caused a stir in the cryptocurrency market by moving its Bitcoin to unknown wallets. However, Arkham clarified these were just routine wallet changes, and Tesla still owns the coins.
Tesla initially bought $1.5 billion in Bitcoin in early 2021 and briefly allowed customers to use it for payments, but quickly reversed that decision due to environmental concerns. Since then, Tesla has sold a large part of its Bitcoin holdings.
Despite rumors that Tesla might sell the rest of its Bitcoin, it remains the fourth-largest corporate holder of the cryptocurrency.
Elon Musk, Tesla’s CEO, hasn’t commented on Bitcoin publicly since 2022, though he recently called crypto “interesting” for its decentralized nature. Musk had previously indicated Tesla could accept Bitcoin payments again if its mining practices became more environmentally friendly.
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