Tesla Still Holds $776 Million in Bitcoin, No Sales Made
Tesla still holds about $776 million in Bitcoin, according to a recent report from Arkham Intelligence.
Earlier this month, Tesla caused a stir in the cryptocurrency market by moving its Bitcoin to unknown wallets. However, Arkham clarified these were just routine wallet changes, and Tesla still owns the coins.
Tesla initially bought $1.5 billion in Bitcoin in early 2021 and briefly allowed customers to use it for payments, but quickly reversed that decision due to environmental concerns. Since then, Tesla has sold a large part of its Bitcoin holdings.
Despite rumors that Tesla might sell the rest of its Bitcoin, it remains the fourth-largest corporate holder of the cryptocurrency.
READ MORE:
Bitcoin ETFs Face First Outflows After Week of Strong InflowsElon Musk, Tesla’s CEO, hasn’t commented on Bitcoin publicly since 2022, though he recently called crypto “interesting” for its decentralized nature. Musk had previously indicated Tesla could accept Bitcoin payments again if its mining practices became more environmentally friendly.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hong Kong Needs a Liquidity Revolution
In the past two decades, Hong Kong was once the jewel of Asia's capital markets. But today, the Hong Kong stock market faces an undeniable reality: insufficient liquidity. Trading volumes have declined, valuations have remained depressed for a long time, and the financing capacity of high-quality companies is severely constrained. The issue is not a lack of quality companies in Hong Kong, but a lack of new liquidity absorption models. In the new global capital landscape, liquidity determines market pricing power and influence. Wall Street holds this influence, using ETFs, derivatives, and structured products to continuously cycle funds and assets, creating a vast liquidity network. In contrast, Hong Kong's capital market remains stuck in a traditional model of placements, IPOs, and secondary market trading, and is in urgent need of a new "liquidity revolution."
SEC unveils cross-border task force to tackle fraud
Share link:In this post: The US SEC has announced the formation of a new cross-border task force to tackle international fraud. The group is expected to help the SEC in its fight against international bad actors targeting US investors. The cross-border task force will also be charged with overseeing violations related to securities laws.
Warner Bros sues AI-image generator Midjourney over alleged character images theft
Share link:In this post: Warner Bros has initiated legal actions against AI startup Midjourney, claiming copyright infringement. The company claimed Midjourney knowingly engaged in wrongful conduct by generating its high-quality images for its subscribers. Warner Bros claims that the lawsuit was filed to protect its partners, content, and investments.
InfoFi Faces a Slump: Rule Upgrades, Shrinking Yields, and Platform Transformation Dilemma
Creators and projects are leaving the InfoFi platform.
Trending news
MoreCrypto prices
More
