TechFlow reported on October 23 that cryptocurrency analytics platform Arkham posted on X, suggesting Tesla's recent Bitcoin transfer last week was an internal wallet adjustment, with all Bitcoin still belonging to Tesla. Tesla moved its entire holding of 11,509 Bitcoins (approximately $776.9 million) into seven new wallets, each holding between 1,100 and 2,109.3 BTC.
Arkham noted that all receiving wallets received test transactions, and except for one, all wallets hold whole numbers of Bitcoin. There is speculation that this transfer could involve moving assets to custodians, possibly using Bitcoin as collateral for loans.
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