Tesla maintains its remaining Bitcoin holdings despite recent wallet transfers that triggered speculation of a potential sell-off, according to blockchain analytics platform Arkham Intelligence.
The transfers involved sending Bitcoin to seven different wallets, with test transactions conducted and the Bitcoin still owned by Tesla.
Five wallets contain Bitcoin valued at over $100 million each, while the remaining two hold $87.6 million and $74.1 million respectively.
The recent transfers are speculated to be related to a Bitcoin-backed loan, and Tesla has not issued an official explanation for the transfers.