According to Odaily Planet Daily, Arkham Intelligence data showed that Tesla transferred its Bitcoin reserves for the first time in more than two years, which caused panic among some Bitcoin traders.
Maartunn, an analyst at CryptoQuant community, said that Tesla may transfer BTC for the following reasons:
1. Compliance or internal audit: Tesla may transfer Bitcoin to meet accounting or legal obligations related to reporting or internal audits;
2. Wallet management: Tesla may use multiple wallets for operational purposes, but this seems unlikely;
3. Restructuring Funds: Part of a strategy to restructure Bitcoin holdings to prepare for future sales or loans.
