Krutika Adani
Tesla has transferred its entire $770 million Bitcoin reserves to a new address and this has sparked speculations that the car marker might offload them on the market.
In the past Elon Musk, owner of Tesla, said that though Bitcoin has its own merits, he has a soft spot for Dogecoin.
Though no hint has emerged if Tesla is going to offload its Bitcoin, yet the markets expect an incoming price volatility.
In 2022, Tesla dumped $2.5 billion worth of Bitcoins despite a loss.
Due to ample liquidity and a high-demand scenario, Bitcoin might not see a major correction. However, some price volatility is expected to occur.