Topic: Tesla transferring over $760m in BTC - page 2. (Read 294 times)

You are doing an improper comparison here. Saylor and Musk run their companies that have different businesses and products. Musk companies, Tesla and SpaceX nearly don't have anything closely related to Bitcoin. Oppositely, Saylor has Micro Strategy that is a company with diversifying products but recent years one of their main focuses is Bitcoin.

Micro Strategy considers that Bitcoin is the end game and they've never stopped accumulating Bitcoin since September 2020.

https://saylortracker.com/

Unlike Michael J. Saylor, Elon Musk has been inconsistent with his crypto policies so I don't see him as a major player in the industry. All we can do is just speculate about the reason for these transfers. Maybe the move is for security reasons. It could also be that he wants to sell it or he wants to create FUD. But such a move wouldn't affect the market because the amount is insignificant and investors are used to Elon's tricks.  

I read the news and it was sad to know that four people lost their lives in such a painful manner. Telsa have a way of silencing criticism of its faulty products. The company might decide to settle a lawsuit like it did in the case of a Silicon Valley engineer who died in a crash because he was relying on the company's semi-autonomous driving software.  

That's just like saying I'm transferring $0.10 today in BTC.

Cause you know that this amount $760m is only about 0.11% of Tesla value right? 700 billion Tesla value now. Nobody makes a big deal anymore because this isn't a big deal at all.

My total value is something like $3000. I'm not kidding, the bank told me this lol So that's like me transferring $3.3 in BTC now to make the news.

We will know whether they sold or not in Q4 report which is usually released in January although I do not think they sold.
Tesla and Elon Musk news no longer affects the price of Bitcoin as it did in 2021, so ETF news is what affects the price.

Yeah, there will be a fuss about it, but it will be forgotten eventually, as nobody would know what would happen to the money and why. Many reasons can be speculated as to why that happened.

Maybe Tesla realises that the environmentally damaging EV market is dying, and they want to move assets out of the company while they can. I see another 4 french people were burnt to death in a Tesla because they couldn't get out of the car.
https://www.cbsnews.com/news/tesla-crash-france-fire-4-deaths-investigation/

Reasons of the transaction is unknown and people like always, wait for news and speculate what will happen next after the news of this transaction. They deserve to be manipulated by news.

They have understand that it's bitcoin owns by Tesla, not by an individual like Elon Musk and these bitcoins will be sold some day. Tesla as a company must serve their company investors and there will be pressure from investors on Tesla to sell bitcoins. Tesla can not hold their bitcoins forever under customer pressure, but I don't see risk that Tesla will sell these bitcoin too soon. If they want, they would have sold these bitcoins in last bull run, or ATH this year before April halving.

It is not risky if Tesla moved bitcoins from previous wallet to a new wallet, to secure their fund better.

They usually disclose their BTC holdings in investor reports so we will eventually find out if they are selling or they just wanted to move them to new wallets. I don’t see Musk’s companies as prominent players in the crypto space. They bought some BTC in a previous bull market and got a lot of publicity when they decided to accept it. Then Musk suddenly changed his mind about accepting it and sold some of Tesla’s coins. They have not been relevant to Bitcoin since then, aside from a few people being curious to see if they still have their remaining coins.

The only reason why this meaningless transfer is in the news is because there is a "celebrity" behind it. Otherwise this transaction is nowhere near the biggest amount of bitcoin transferred. It is also not uncommon to see such large sums being moved.
Here is about 14800 transactions moving more than 2000 bitcoins in 2024 in descending order starting from 210010 BTC ($9 billion) moved:
https://blockchair.com/bitcoin/transactions?s=output_total(desc)&q=time(2024-01-01..2024-10-16),output_total(200000000000..)#f=hash,block_id,time,output_total,output_total_usd

Tesla Transfers Over $760 Million in Bitcoin: Is this a strategy or Security Move?



On October 15, 2024, Tesla made waves in the crypto world by transferring 1,800 BTC at 5:03 p.m. EDT from block height 865,811. This marked the first step in a series of transactions, with the company eventually shifting 11,509 BTC—worth over $760 million—from its known wallets. The destination and purpose of these funds remain unconfirmed, but speculation has surged around the move.

Tesla’s Massive Bitcoin Transfer

Tesla emptied its well-known Bitcoin wallets, transferring the entire balance to undisclosed locations. The addresses receiving the funds were legacy P2PKH (Pay to Public Key Hash) addresses, with the first transfer involving 1,800 BTC sent to a wallet starting with “1D6Vh.” These funds have not been moved since the initial transfer, sparking interest and speculation within the crypto community. The remaining 11,509 BTC was shifted across approximately 20 transactions, all totaling over $760 million.

Speculation Surrounding Musk's Crypto Strategy

With Elon Musk's other venture, SpaceX, holding 8,285 BTC valued at $555.47 million, Tesla’s move raises questions about a coordinated strategy. Musk’s companies have been prominent players in the crypto space, and these large-scale transfers may indicate a strategic repositioning, though it is unclear if Tesla sold the Bitcoin or merely relocated it for security reasons.

The mystery behind Tesla’s crypto transfers has captured the attention of analysts and investors, sparking discussions about the company’s evolving approach to digital assets. Continue reading here.