“Tesla has transferred all of its Bitcoins,” analysts reported after Elon Musk’s company unexpectedly activated its cryptocurrency wallets. According to Arkham Research, Tesla moved 11,509 BTC to new digital addresses, equivalent to $770 million. This marks the first time since 2022 that the company has interacted with its Bitcoins after previous sales.

Tesla’s large-scale entry into the cryptocurrency world occurred in 2021, when the company invested $1.5 billion in Bitcoin. Subsequently, it became the third-largest BTC holder among public companies, behind only MicroStrategy and MARA.