Forbes: Tesla Position In The Bitcoin Market Is Relatively Small

On Oct. 26, Tesla recently moved its bitcoin holdings to a new wallet and the company's first asset transfer in nearly two-plus years, according to an article written by Forbes.Usually such a move up the chain is a sign of a sell-off, but so far there hasn't been any movement on any exchanges so it may just be a rejigging of Tesla's setup of its bitcoin escrow.

Analysis suggests that Bitcoin is a very small part of Tesla's balance sheet, representing 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, but Tesla's position in the bitcoin market is also relatively small; despite being one of the headline publicly traded companies holding bitcoin, Tesla's holdings account for only 0.055% of the total supply of bitcoin, which is much smaller than market leader MicroStrategy's holdings, which are roughly 22 times larger than Tesla's, which holds 252,220 BTC fighting ah 1.201% of the total Bitcoin supply.

Thus, Tesla's relationship with Bitcoin appears to be a two-way street, i.e., Tesla has little impact on the price of Bitcoin, and Bitcoin holdings have minimal financial impact on Tesla.