Tesla Transfers All $770 Million of Its Bitcoins to Unknown Wallets☑️.
Oct-16-2024
Tesla, one of the largest corporate holders of bitcoin, has moved its remaining 11,509 coins worth about $770 million to new addresses, The Block reports, citing data from analytics company Arkham Research.
In a series of transactions, the company, which made an unprecedented $1.5 billion investment in Bitcoin in February 2021, moved about $770 million in the cryptocurrency to seven new addresses on Tuesday. Tesla had previously conducted six test transactions, interacting with Bitcoin wallets for the first time since selling off most of its holdings in 2022.
As of October 15, Tesla held about 9,720 BTC, worth about $650 million, down from 43,000 at its peak. However, Arkham believes Tesla holds up to 11,509 BTC across 68 addresses, worth $770 million at current prices. Elon Musk’s SpaceX is estimated to hold 8,285 bitcoin, according to Bitcoin Treasuries.
Tesla is the third-largest holder of Bitcoin among publicly traded companies after MicroStrategy and MARA . The electric car maker accepts Bitcoin as payment for vehicle purchases.
It is not known why the company is moving BTC after more than two years of inactivity, although some suspect it may be preparing to sell an even larger portion of its coins.
In the first quarter of 2021, Musk authorized the sale of $272 million in bitcoin, making $128 million in profit as bitcoin rose to nearly $62,000, according to data from The Block.
Tesla also sold $936 million worth of coins in Q2 2022, earning $64 million.
The company will release its third-quarter financial results after the market close on October 23.
Bitcoin remains high on Wednesday, trading near its late-July highs of $67,800 the day before.
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The percentages on deposits as of October 1️⃣5️⃣
Oct-15-2024
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Analyst predicts Bitcoin will rise to its all-time high✅.
Oct-15-2024
Bitcoin's sharp jumps always help analysts make forecasts, as they help outline the future trend. Thus, Thinking Crypto analyst suggests that Bitcoin will reach a historical maximum of $73,794 this quarter.
However, he did quote another analyst, Cryptowzrd, who calls Bitcoin's current move a "gold trap," adding that gold is paving the way for Bitcoin and the parabolic rally has already begun.
Thinking Crypto pointed out that the Dollar Currency Index (DXY) indicator is showing a bearish setup on the daily chart as it approaches the overbought zone on the RSI metric. DXY is an indicator used by traders to predict market trends.
Typically, the DXY is inversely correlated with risky assets such as cryptocurrencies and the stock market. By showing a bearish setup, it suggests that the crypto market may be preparing for an upward rally.
Along with his analysis of Bitcoin, he was optimistic about Avalanche's prospects, as he believes the game's protocol works well in the blockchain ecosystem. After its early access release, the Avalanche-based battle royale shooter Off The Grid has already become popular on the Epic Games Store.
This initiative has contributed to the adoption of AVAX, which has led to a 20% increase in the token's price over the past five days.
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The percentages on deposits as of October 1️⃣4️⃣
Oct-14-2024
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UAE to Eliminate VAT on Cryptocurrency Transactions. Time to Get a Wallet ✅.
Oct-14-2024
The United Arab Emirates has introduced new regulations that eliminate value-added tax (VAT) on cryptocurrency transfers and conversions.
This makes the country one of the most attractive destinations for businesses related to digital assets.
The decision of the UAE authorities demonstrates the desire to create favorable conditions for the development of cryptocurrency technologies and attract investors from all over the world 🌏.
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The percentages on deposits as of October 1️⃣1️⃣
Oct-11-2024
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