Overview

• Tesla, the fourth-largest U.S. public company holder of Bitcoin, has transferred nearly all of its remaining Bitcoin holdings to new, unidentified wallets.
• The move involves approximately 11,500 Bitcoin, valued at around $765 million, with no immediate indication that Tesla plans to sell the cryptocurrency.
• Tesla's relationship with Bitcoin has been volatile, initially investing $1.5 billion in 2021, then selling 75% of its holdings in 2022 at a significant loss.
• The transfer comes ahead of new accounting standards requiring cryptocurrency holdings to be reported at fair value on balance sheets starting December 15.
• Speculation abounds about Tesla's next steps, including potential sales or renewed acceptance of Bitcoin payments, but the company's intentions remain unclear.