Tesla did not sell Bitcoin, only converted wallets? The truth will be revealed in tomorrow's financial report.

Arkham Research, a blockchain analytics company, tracked last week that Tesla, the electric car giant led by Elon Musk, transferred 11,509 bitcoins to a new address. The company believes that Tesla is simply converting wallets and still owns the bitcoins.

Last week, blockchain analytics firm Arkham Research tracked that Tesla, led by Elon Musk, transferred 11,509 bitcoins to a new address. Arkham Research believes that Tesla was only converting wallets and still owns the bitcoins.

Tesla moved 11,509 bitcoins to seven new addresses last week. Except for one wallet, the other six wallets underwent transaction testing, and the current value of these bitcoins is $777 million.

After a week, the wallets marked as belonging to Tesla showed no further activity. Arkham Research believes that Tesla was simply converting wallets before and still owns the bitcoins.

In 2021, Tesla purchased around 48,000 bitcoins for $1.5 billion, sold some in the first quarter of 2021 and the second quarter of 2022, and has not made any changes since. According to the end-of-June financial report, Tesla still holds bitcoins with a book value of around $184 million. The book value does not reflect market value, as Tesla presents it conservatively at a lower price.

Tesla will release its third-quarter financial report after the U.S. stock market closes today, which will be early morning on 10/24 in Taiwan. In addition to the performance report and guidance that investors are eager to know, the financial report will also disclose the amount of bitcoins held by Tesla. We will report the latest news for you tomorrow morning.