Tesla Moves Bitcoin Wallets and Sparks Market Speculation

You can also read this news on COINTURK NEWS: Tesla Moves Bitcoin Wallets and Sparks Market Speculation

After two years, Tesla’s wallets have come alive again. Cryptocurrency enthusiasts may face an unpleasant surprise as Bitcoin starts to rise. What does this wallet activity signify? What awaits crypto traders in the coming hours? Here are the details.

Will Elon Musk Sell Bitcoin?

Yes, it is likely. Approximately 19 minutes ago, the Bitcoin wallets owned by Elon Musk’s company, Tesla, became active. Small transfers were made to new addresses, reminding us of a common practice where corporate entities and individual whales send small amounts of assets to an address before larger transactions. Once they confirm that the BTC has been successfully delivered, the actual transfer takes place.

Tesla‘s recent actions could imply two potential scenarios.

• It may distribute its 11,509 BTC to different addresses.
• It might be preparing to sell $767 million worth of BTC.

The empty status of the recipient addresses allows for two interpretations.

• Transfers could be preparing to a new address from Coinbase Prime or other exchanges.
• Tesla may have created a new wallet, possibly new cold wallets.

We will likely learn the purpose behind these actions in the next hour or two.

The post Tesla Moves Bitcoin Wallets and Sparks Market Speculation appeared first on COINTURK NEWS.