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| Meta Title | Tesla moves $765 million of bitcoin to mystery wallet | The Independent |
| Meta Description | Elon Musk bought $1.5 billion worth of the cryptocurrency in 2021 using the electric car makerâs cash reserves |
| Meta Canonical | null |
| Boilerpipe Text | Tesla
has quietly moved more than $750 million worth of bitcoin into unidentified crypto wallets.
Data from blockchain analytics platform Arkham Intelligence reveals that around $765 million worth of bitcoin purchased by the electric car maker has moved to unknown wallets.
It is not clear whether it is part of plans to sell the holdings or spend them.
The Independent
has reached out to Tesla for more information.
Tesla CEO Elon Musk is a vocal crypto advocate and bought
$1.5 billion worth of bitcoin in 2021
using the companyâs cash reserves.
The cryptocurrency was trading between $30,000 and $40,000 at the time of the purchase, however Mr Musk subsequently sold off most of Teslaâs btc holdings in 2022 when it was worth around $20,000 per coin.
Bitcoin is currently trading close to its all-time high of $74,000 having surged in price by nearly a third since early September.
The rally has been buoyed by positive sentiment in the US ahead of the presidential elections next month, with
both candidates courting crypto holders
during their campaign.
Republican candidate Donald Trump has pledged to create a bitcoin strategic reserve if elected, as well as form a crypto advisory council. Musk, who is backing Trump, has also agreed to lead a so-called Department of Government Efficiency (DOGE) as part of Trumpâs administration, referring to the popular memecoin Dogecoin.
Traders have also pointed to a seasonal phenomena known as âUptoberâ, which has seen October become bitcoinâs best performing month over the last decade.
âWith Donald Trumpâs recent statement that âcrypto is the futureâ and Kamala Harrisâ declaration that her administration would âencourage innovative technologies like AI and digital assets,â regardless of the results of the election, bitcoin looks to continue rising,â Philippe Bekhazi, CEO and co-founder of the digital asset platform XBTO, told
The Independent
.
âHowever, investors should remember that bitcoinâs path is rarely straightforward. Volatility is part of bitcoinâs nature, with historical data showing that just 10 days a year can define its annual return. The path in October is highly unpredictable, but the result is likely that we will have an Uptober.â |
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# Tesla moves \$765 million of bitcoin to mystery wallet
## Elon Musk bought \$1.5 billion worth of the cryptocurrency in 2021 using the electric car makerâs cash reserves
[Anthony Cuthbertson](https://www.the-independent.com/author/anthony-cuthbertson)
Tuesday 22 October 2024 07:52 EDT
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Tesla is one of the largest corporate holders of bitcoin in the world (Reuters)

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[Tesla](https://www.the-independent.com/tech/tesla-cybercab-uber-ai-robovan-b2627809.html) has quietly moved more than \$750 million worth of bitcoin into unidentified crypto wallets.
Data from blockchain analytics platform Arkham Intelligence reveals that around \$765 million worth of bitcoin purchased by the electric car maker has moved to unknown wallets.
It is not clear whether it is part of plans to sell the holdings or spend them.*The Independent* has reached out to Tesla for more information.
Tesla CEO Elon Musk is a vocal crypto advocate and bought [\$1.5 billion worth of bitcoin in 2021](https://www.the-independent.com/tech/bitcoin-tesla-worth-elon-musk-b1832141.html) using the companyâs cash reserves.
The cryptocurrency was trading between \$30,000 and \$40,000 at the time of the purchase, however Mr Musk subsequently sold off most of Teslaâs btc holdings in 2022 when it was worth around \$20,000 per coin.
Bitcoin is currently trading close to its all-time high of \$74,000 having surged in price by nearly a third since early September.
The rally has been buoyed by positive sentiment in the US ahead of the presidential elections next month, with [both candidates courting crypto holders](https://www.the-independent.com/tech/bitcoin-election-crypto-trump-harris-b2630504.html) during their campaign.
Republican candidate Donald Trump has pledged to create a bitcoin strategic reserve if elected, as well as form a crypto advisory council. Musk, who is backing Trump, has also agreed to lead a so-called Department of Government Efficiency (DOGE) as part of Trumpâs administration, referring to the popular memecoin Dogecoin.
Traders have also pointed to a seasonal phenomena known as âUptoberâ, which has seen October become bitcoinâs best performing month over the last decade.
âWith Donald Trumpâs recent statement that âcrypto is the futureâ and Kamala Harrisâ declaration that her administration would âencourage innovative technologies like AI and digital assets,â regardless of the results of the election, bitcoin looks to continue rising,â Philippe Bekhazi, CEO and co-founder of the digital asset platform XBTO, told *The Independent*.
âHowever, investors should remember that bitcoinâs path is rarely straightforward. Volatility is part of bitcoinâs nature, with historical data showing that just 10 days a year can define its annual return. The path in October is highly unpredictable, but the result is likely that we will have an Uptober.â
### More about
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Our government is not for sale, Mr. Musk. Go back to South Africa where you belong, and take your pet felon with you.
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| Readable Markdown | [Tesla](https://www.the-independent.com/tech/tesla-cybercab-uber-ai-robovan-b2627809.html) has quietly moved more than \$750 million worth of bitcoin into unidentified crypto wallets.
Data from blockchain analytics platform Arkham Intelligence reveals that around \$765 million worth of bitcoin purchased by the electric car maker has moved to unknown wallets.
It is not clear whether it is part of plans to sell the holdings or spend them.*The Independent* has reached out to Tesla for more information.
Tesla CEO Elon Musk is a vocal crypto advocate and bought [\$1.5 billion worth of bitcoin in 2021](https://www.the-independent.com/tech/bitcoin-tesla-worth-elon-musk-b1832141.html) using the companyâs cash reserves.
The cryptocurrency was trading between \$30,000 and \$40,000 at the time of the purchase, however Mr Musk subsequently sold off most of Teslaâs btc holdings in 2022 when it was worth around \$20,000 per coin.
Bitcoin is currently trading close to its all-time high of \$74,000 having surged in price by nearly a third since early September.
The rally has been buoyed by positive sentiment in the US ahead of the presidential elections next month, with [both candidates courting crypto holders](https://www.the-independent.com/tech/bitcoin-election-crypto-trump-harris-b2630504.html) during their campaign.
Republican candidate Donald Trump has pledged to create a bitcoin strategic reserve if elected, as well as form a crypto advisory council. Musk, who is backing Trump, has also agreed to lead a so-called Department of Government Efficiency (DOGE) as part of Trumpâs administration, referring to the popular memecoin Dogecoin.
Traders have also pointed to a seasonal phenomena known as âUptoberâ, which has seen October become bitcoinâs best performing month over the last decade.
âWith Donald Trumpâs recent statement that âcrypto is the futureâ and Kamala Harrisâ declaration that her administration would âencourage innovative technologies like AI and digital assets,â regardless of the results of the election, bitcoin looks to continue rising,â Philippe Bekhazi, CEO and co-founder of the digital asset platform XBTO, told *The Independent*.
âHowever, investors should remember that bitcoinâs path is rarely straightforward. Volatility is part of bitcoinâs nature, with historical data showing that just 10 days a year can define its annual return. The path in October is highly unpredictable, but the result is likely that we will have an Uptober.â |
| Shard | 188 (laksa) |
| Root Hash | 17412317908331614188 |
| Unparsed URL | com,the-independent!www,/tech/tesla-bitcoin-wallet-crypto-elon-musk-b2633351.html s443 |