Metaplanet Is Now the Fourth-Largest Public Bitcoin Holder After Latest 5,268 BTC Buy
Metaplanet bought 5,268 BTC, raising its total holdings to 30,823 BTC and making it the fourth-largest publicly traded bitcoin treasury.
AnaisLog in/ Sign up
Tesla's $780 Million Bitcoin: Arkham Believes the Electric Giant Still Holds Its Fortune Despite Recent Wallet Moves
Follow
Is Tesla Keeping Its Bitcoin?
Recent movements in Tesla's Bitcoin holdings have sparked curiosity and speculation among investors and crypto enthusiasts alike.
On 16 October 2024, the electric car manufacturer executed a significant transfer, redistributing its entire stash of 11,509 Bitcoin across seven different wallets.
These transfers were substantial, with two of the largest wallets receiving amounts valued at $142.2 million and $128.1 million, respectively.
Initially, this activity raised alarms about a potential sell-off that could impact Bitcoin's market stability.
However, blockchain analytics firm Arkham Intelligence provided a reassuring perspective on the situation.
In an insightful post on X (formerly Twitter) dated 23 October, Arkham posited,
“We believe that the Tesla wallet movements... were wallet rotations with the Bitcoin still owned by Tesla.”
This analysis suggests that despite the changes in wallet addresses, Tesla retains ownership of its Bitcoin.
As Arkham's data indicates, the wallets created during this transaction have remained inactive since the transfer, further allaying fears of an imminent market dump.
What Does This Mean for Bitcoin’s Market?
Interestingly, Bitcoin’s price responded positively to these wallet movements.
Since the time of the transfers, Bitcoin's price has climbed by 5%, hitting a peak of $69,227 on 21 October, before pulling back slightly to approximately $66,933.
This increase in value suggests that investor confidence has not been shaken by Tesla’s recent actions.
It raises the question: what are the implications of Tesla’s moves for the broader cryptocurrency market?
Speculation abounds regarding the motive behind these transfers.
Some analysts suggest that the funds might be on the move to a custodian service, potentially enabling Tesla to leverage its Bitcoin holdings for loans.
Currently, Tesla employs Coinbase Prime Custody to manage its Bitcoin assets, indicating a strategic approach to utilising these digital assets.
Could Tesla Reveal Its Plans Soon?
As anticipation builds, many are eager to hear from Tesla's executives regarding their future plans for Bitcoin.
The company is scheduled to hold its third-quarter earnings call on 24 October morning, where insights into its cryptocurrency strategies could be disclosed.
If Arkham’s analysis proves accurate, Tesla remains the fourth-largest corporate holder of Bitcoin, trailing behind only MicroStrategy and two Bitcoin mining companies, Marathon Digital and Riot Platforms.
With a history of significant investments in cryptocurrency, including a $1.5 billion purchase of Bitcoin in February 2021, Tesla has made headlines for its fluctuating stance on digital currency.
The company's CEO, Elon Musk, briefly accepted Bitcoin as payment for Tesla vehicles in March 2021, only to reverse that decision weeks later.
This ongoing saga of Tesla's Bitcoin holdings reflects a broader narrative within the crypto landscape, highlighting the interplay between corporate strategy and market sentiment.
As more information emerges, stakeholders in both the electric vehicle and cryptocurrency sectors will be watching closely to understand the implications of Tesla's decisions.
Gain a broader understanding of the crypto industry through informative reports, and engage in in-depth discussions with other like-minded authors and readers. You are welcome to join us in our growing Coinlive community:https://t.me/CoinliveSG
Add Comment
LoginLeave your comments
0 Comments
Earliest
Load more comments
Related News
- Anais
High-Stakes Crypto-Treasury Strategies Put Over 200 Public Companies Under Investigation for Trading Abnormalities
US regulators are investigating over 200 companies for unusual stock trading ahead of crypto-treasury announcements, suspecting possible insider leaks. The SEC and FINRA are checking compliance with disclosure rules, with potential fines and sanctions if violations are found.
AnaisShareholder Dilution Rises as MicroStrategy Funds $1.1 Billion Bitcoin Buys Through Stock Sales
MicroStrategy bought 196 more Bitcoin, raising its total holdings to 640,031 BTC, but funded most purchases by issuing over 3 million new shares. This share dilution has raised concerns among investors as the company’s stock underperforms despite strong Bitcoin gains.
WeatherlyNew Turkish Bill Could Give Regulators Power to Freeze Bank and Crypto Accounts Linked to Crime
Turkey is preparing a law that would let its financial crime agency, Masak, freeze cryptocurrency and bank accounts linked to illegal activity. The rules also aim to strengthen oversight of crypto exchanges and curb the use of rented accounts and suspicious wallets.
AnaisHistoric Japanese Kimono Maker Marusho Hotta Rebrands as Bitcoin Japan and Launches Corporate Bitcoin Treasury
The company will change its name to Bitcoin Japan Corporation on 11 November 2025. It is launching a Bitcoin treasury business and plans to expand into related financial services.
WeatherlyKevin Durant’s Lost Bitcoin Multiplied 180x Before Recovery… So Why Are Other Coinbase Customers Still Stranded?
Nearly 10 years after losing access to his Coinbase account, NBA legend Kevin Durant has finally regained control of his long-dormant Bitcoin stash. But what began as a feel-good recovery story has unexpectedly stirred anger among Coinbase users who say their own pleas for help have gone unanswered.
XingChiNew Korean Drama ‘To The Moon’ Follows Three Women Chasing Big Wins in South Korea’s Explosive 2017–2018 Crypto Market
A new South Korean drama "To The Moon", follows three women investing in crypto during the 2017–2018 Bitcoin boom. It highlights the country’s $3.15 billion daily retail crypto market and growing regulatory oversight.
JoyTrump Sons Push Crypto Into Public Markets With Nasdaq Launch of American Bitcoin Corp: Could This Give the President Unprecedented Market Influence?
The Trump family’s American Bitcoin Corp started trading on Nasdaq, raising $2.1 billion and holding 2,443 Bitcoins to offer investors regulated crypto exposure. This comes as Donald Trump’s administration eases crypto regulations, boosting family-held digital assets worth over $5 billion.
WeatherlyUS Lawmakers Meet Michael Saylor And Crypto Chiefs To Fast-Track Strategic Bitcoin Reserve Plan: Is The US Ready To Back One Million Bitcoin?
US lawmakers are meeting with crypto leaders to discuss a bill that would let the government buy one million Bitcoin over five years. The plan aims to build a strategic Bitcoin reserve using budget-neutral funding, but it needs wider political support to move forward.
AnaisAltvest Capital Rebrands as Africa Bitcoin Corp and Plans $210 Million Bitcoin Buy to Lead Africa’s Crypto Market: Could This Be Africa’s Bitcoin Breakthrough?
South African company Altvest plans to raise $210 million to buy Bitcoin and rebrand as Africa Bitcoin Corp. The firm aims to hold Bitcoin as a core reserve asset and list on regional and international exchanges.
Weatherly
More news about bitboy crypto twitter
- Ordz Games launches BitBoy console InscriptionBullishBearish
- BitBoy Cryptoの元パーソナリティ：一線の終わり？BullishBearish
More news about bitboy crypto twitter
Crypto Twitter Reacts to Official 'Game of Thrones' NFTs
The "Game of Thrones" official NFT collection has completely sold out just seven hours after its release yesterday on Nifty's NFT marketplace.
decryptCrypto Twitter Delves Into Strange, Sloppy Side of Trump’s NFT Collection
Online sleuths analyzed blockchain data and assets in the former president’s NFT collection, finding evidence of stolen art and shady wallet addresses, painting a picture of how the digital collectibles came to be.
CoindeskCrypto YouTuber ‘BitBoy’ accuses former SEC boss of taking bribes
Ben Armstrong accuses former SEC Director William Hinman of accepting bribes to declare Ethereum (ETH) a commodity.
FinboldRange-Bound BTC Reminds Crypto Twitter of 2018 Lull
Prominent crypto commentators say they're worried bitcoin's price consolidation indicates a deeper slide is coming, just as it did four years ago.
CoindeskCrypto Influencer Cobie Sends $100K To Help In Legal Battle Against Bitboy
YouTuber Erling “Atozy” Mengshoel was sued by Ben “Bitboy” Armstrong, owner of one of the largest crypto channels on this ...
BitcoinistElon Musk’s Twitter Takeover Gives Crypto Aficionados A New Hope
BitcoinistIreneDAO NFT Causes a Buzz on Crypto Twitter
DAO, the fan club of crypto influencer and model Yuqing Irene Zhao, is guided by its core values of Simplicity, Wholeness, Meaning, and Purpose (SIMP).
CointelegraphCrypto Twitter Discusses Role of Renewable Energy in Bitcoin Mining
Crypto Twitter discusses whether mining Bitcoin with clean energy offers a good solution to excess or unused energy.
CointelegraphElon Musk to Buy Twitter for $44 Billion, Crypto Industry Responds
The company's board of directors unanimously approved the deal on Monday, but added that it was still "subject to the approval of Twitter's shareholders."
CointelegraphCrypto Twitter reacts as Russian gov’t reviews finalized crypto bill
Russia’s finance ministry shared the amended and finalized crypto bill with the government, which recommends using cryptocurrencies as legal tender.
Cointelegraph