Tesla still holds 11,509 bitcoins

Arkham Intelligence, a firm that specializes in blockchain analysis, has reported a significant development regarding Tesla’s Bitcoin holdings. According to their data, Tesla transferred a total of 11,509 bitcoins to wallets that are new and previously unknown. This news initially raised concerns about the company’s control over its Bitcoin assets.

However, Arkham Intelligence later clarified its findings. The firm stated that the transfers were internal movements. This means that Tesla still retains ownership of the bitcoins, even though they now reside in different wallets.

The bitcoins are spread across seven distinct wallets, each holding between 1,100 and 2,200 bitcoins. This distribution has led to various speculations. Some analysts suggest that Tesla might be moving these assets to a trustee as a precaution in securing a loan.

Adding to the intrigue, Tesla is preparing to release its quarterly earnings report today. This report could shed light on the company's overall strategy regarding Bitcoin and provide insights into the reasoning behind these recent transfers. Investors and stakeholders are keenly awaiting this information to better understand Tesla's position in the cryptocurrency market.