Some users speculated that Tesla might be buying Bitcoin and could reveal it during its next earnings call, while others believe it could be an accounting error.
Tesla’s Bitcoin holdings have become a topic of discussion in the crypto community again after cryptocurrency data analytics platform Arkham Intelligence added Tesla’s Bitcoin wallet tracking feature to its dashboard. Tesla’s wallet now holds about 11,509 BTC at the time of writing, 1,789 more than the 9,720 BTC it reported during its last earnings report.
The Elon Musk-led Tesla bought $1.5 billion worth of Bitcoin in February 2021, near the peak of the last bull run, and it announced plans to accept Bitcoin payments for its cars. However, the firm’s Bitcoin (BTC) adoption was short-lived, with the company first selling about 10% of its holdings in March 2021. In the second quarter of 2022, the electric car maker sold approximately 75% of its Bitcoin reserves.
A timeline of Tesla’s Bitcoin holdings and sales:
