Tesla Wallets Show Activity as Bitcoin Prices Rise

After two years, Tesla wallets have become active again. Cryptocurrency holders may face an unpleasant surprise as Bitcoin $106,150 prices rise. What does this wallet activity signify? What awaits cryptocurrency holders in the coming hours? Here are the details.

Will Elon Musk Sell Bitcoin?

Yes, it’s likely. Approximately 19 minutes ago, Tesla, owned by Elon Musk, saw movements in its Bitcoin wallets. Small transfers occurred to new addresses, reminding us of a common practice. Corporate entities and individual whales often send small amounts to addresses before making large transfers. Once they confirm the successful arrival of Bitcoin, they proceed with the major transfer.

If Tesla executed this transfer, two conclusions can be drawn.

• They might distribute their 11,509 BTC to various addresses.
• They could be preparing to sell BTC worth 767 million dollars.

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

• Transfers may be preparing to go to Coinbase Prime or new addresses from different OTC sales or exchanges.
• Tesla may have created new wallets, possibly new cold wallets.

We will likely learn the purpose behind this activity in the next one to two hours.