Tesla, led by Elon Musk, transferred its entire Bitcoin stash worth over $760 million to unknown wallets, raising speculation of a potential sale.
The sale of these coins could have a negative impact on the market as Tesla is the fourth-largest publicly listed U.S. company in terms of Bitcoin holdings.
It is unclear whether the transfer is for internal account shuffling or a sign of Tesla planning to dump the Bitcoin.
Tesla's previous purchase of $1.5 billion worth of Bitcoin in 2021 and subsequent sale of a portion raised questions about its stance on cryptocurrency.