Tesla recently transferred its entire Bitcoin holdings of 11,509 BTC to new digital addresses, marking its first activity with these wallets since 2022.
According to sources, Tesla currently stands as the third-largest Bitcoin holder among public companies, following MicroStrategy and Marathon Digital, with SpaceX also holding a substantial amount.
Zachary Kirkhorn, Tesla's former Chief Financial Officer, reflected on the company's initial Bitcoin investment strategy, emphasizing the need for a cash storage solution that offered liquidity without high risks.
The lack of viable traditional investment options, especially with low yields, led Tesla to Bitcoin as a way to preserve liquidity while preparing for uncertainties in the market.
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