Tesla moved $760 million worth of Bitcoin to unknown wallets, reducing its own holdings significantly.

From Nasdaq

October 16, 2024 07:34:12 AM:

Elon Musk’s company Tesla (TSLA) has moved almost its entire $760 million Bitcoin stash to unknown wallets, sparking speculation and leaving its wallets with just $6.65 worth of BTC. The EV major is the fourth-largest Bitcoin holder among publicly traded U.S. companies. Tesla initially invested $1.5 billion in Bitcoin but later sold 75% of its holdings due to market volatility and environmental concerns over mining. Analysts have a Hold consensus rating on Tesla stock, with an average price target of $207.83 implying a 5.4% downside potential.

Read more at Nasdaq: Tesla (NASDAQ:TSLA) Moves $760M Bitcoin Stash to Unknown Wallets