This big move happened about 13 hours ago after Bitcoin had been sitting still for two whole years.
Many people believe that these new wallets likely belong to Tesla, as they keep their digital money safe and sound. Let’s discover more about this interesting news about Bitcoin.
Elon Musk Reaffirms Commitment to Bitcoin and Crypto
Elon Musk, the CEO of Tesla, is a well-known supporter of Bitcoin and has often talked about his love for crypto. He once joked that Bitcoin is his “safe word,” showing how much he believes in its potential. Even though Tesla moved its Bitcoin, Musk has made it clear that he still owns his Bitcoin, along with other popular digital currencies like Ethereum and Dogecoin. He has no plans to sell any of them.
Tesla (@Tesla) transferred all 11,509 $BTC (now worth $773M) to 7 new wallets 4 hours ago after 2 years of dormancy.
Note that it is likely these are just new wallets belonging to Tesla.
Elon Musk (@elonmusk), CEO of Tesla and a well-known advocate of #Bitcoin, has said that… pic.twitter.com/xZqfZZ67On
— Spot On Chain (@spotonchain) October 16, 2024
By moving their BTC to new wallets, Tesla is keeping its options open for the future. Maybe they plan to use it for something exciting. Or perhaps they just want to keep their investments secure. Either way, it shows that they are still committed to being part of the crypto world.
More About Bitcoin
BlackRock’s Bitcoin ETF experienced a significant boost yesterday, attracting $289 million in inflows. This surge has brought their total assets under management (AUM) to over $25 billion. This solidifies BlackRock’s position as a major player in the cryptocurrency market.
JUST IN: 🇺🇸 BlackRock #Bitcoin ETF saw $289 million in inflows yesterday.
They now have over $25 Billion in AUM 🤯 pic.twitter.com/XtfK2ToOvk
— Bitcoin Magazine (@BitcoinMagazine) October 16, 2024
Investors are showing strong confidence in the fund, highlighting the growing interest in BTC as a viable investment option. With this impressive influx of capital, BlackRock continues to lead the way in making cryptocurrency more accessible to a broader audience.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
