According to blockchain analytics firm Arkham Intelligence, electric car maker Tesla presumably still owns $780 million in Bitcoin.
This is despite having transferred all funds to unidentified wallets on October 15.
In a post on X dated Oct. 22, Arkham Intelligence stated they believe the Bitcoin moves from Tesla's wallet were just rotations, and that the company still owns all the Bitcoins.
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On October 15, Tesla split its 11,509 Bitcoins into seven different wallets, each holding between 1,100 and 2,200 BTC.
The price of Bitcoin has not been affected by the transfers, as it has actually increased by 5% since then, reaching $69,220 on October 21.