PANews On October 26, Forbes wrote that Tesla recently transferred its Bitcoin holdings to a new wallet, which was the company's first asset transfer in more than two years. Usually such on-chain changes are a signal of selling, but so far there has been no movement from any exchange, so it may just be Tesla's readjustment of its Bitcoin custody settings.
Analysts believe that Bitcoin only accounts for a small part of Tesla's balance sheet, accounting for only 2.31% of Tesla's total cash and investments ($33.6 billion) and only 0.65% of Tesla's total assets ($119.8 billion). Not only that, Tesla's position in the Bitcoin market is relatively small. Although Tesla is one of the top listed companies holding Bitcoin, its Bitcoin holdings only account for 0.055% of the total Bitcoin supply, which is much smaller than the market leader MicroStrategy, which holds about 22 times as many Bitcoins as Tesla. Its 252,220 BTC account for 1.201% of the total Bitcoin supply.
Therefore, the relationship between Tesla and Bitcoin seems to be two-way, that is: Tesla has little impact on the price of Bitcoin, and Bitcoin holdings have little financial impact on Tesla.
