Some users speculated that Tesla might be buying Bitcoins and might reveal the same during their next earning call while others believe it could be an accounting error.
Tesla’s Bitcoin (BTC) holdings have become a topic of discussion in the crypto community again after it was reported that the firm's wallet now holds about 11,500 BTC, over 1,700 more than was reported during the last earning report.
The crypto data analytic platform Arkham recently added Tesla’s Bitcoin wallet tracking feature to its dashboard. The Tesla-linked BTC wallet shows a balance of 11,509 BTC, about 1789 more than the last reported balance of 9,720 BTC.
The Elon Musk-led Tesla bought $1.5 billion worth of Bitcoin in February 2021 at the peak of the last bull run, and announced plans to accept Bitcoin payments for Tesla cars as well. However, the firm’s Bitcoin frenzy was short-lived, as the company first sold about 10% of its holdings in March 2021. Later, in the second quarter of 2022, the electric carmaker sold approximately 75% of its Bitcoin reserves.
