Musk’s Tesla continues to hold approximately $780 million in Bitcoin (BTC), having moved its stash of 11,509 BTC to new wallets last week. According to Arkham, a blockchain analysis firm, these funds have not been sent to exchanges, which usually indicates a sale. This movement caused market volatility due to fears of potential liquidation, but Arkham believes this is merely wallet rotation with no intention to liquidate. The Bitcoin is distributed across several wallets, with the largest containing between $121 million and $142 million. Speculation suggests the movement may relate to custody services, perhaps to secure a loan against the BTC. Tesla has not publicly commented on these wallet activities. The company is preparing for its Q3 earnings call, where analysts anticipate discussing earnings per share and updates regarding its Bitcoin holdings.

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