Elon Musk’s Tesla Transfers $765 Million in Bitcoin to Unknown Wallets
After two years of inactivity, Tesla recently moved nearly all of its Bitcoin holdings worth around $765 million to an unknown wallet. According to Arkham Intelligence, the wallet is new and unrelated to cryptocurrency exchanges, suggesting Tesla has no plans to sell Bitcoin at this time. The company has had a good relationship with Bitcoin, buying $1.5 billion worth of Bitcoin in 2020, selling some in 2021 and 2022, and holding onto the rest, which has gained quite a bit of value. Tesla did not respond to questions about the changes.
Blockstream Raises $210 Million to Boost Bitcoin Layer 2 Infrastructure
Blockstream, a Bitcoin infrastructure company recently closed a $210 million funding round led by Fulgur Ventures, focused on building a layer 2 Bitcoin solutions. While some funds may also support Bitcoin mining and direct purchase, these are considered secondary goals. CEO Adam Back emphasized the fund’s importance in connecting Bitcoin to the broader financial system and announced the appointment of Michael Minkevich as chief operating officer. Blockstream, known for its L2 solutions Liquid and Greenlight, aims to increase Bitcoin’s usability for everyday transactions, and this funding is a key part of its strategy. The company previously participated in another fundraising campaign reflecting the growing interest in its Bitcoin L2 solution.
Craig Wright Strikes Again with £911 Billion Lawsuit Against Bitcoin Core and Square!
Australian computer scientist Craig Wright, who claims to have invented Bitcoin, has filed a £911 billion lawsuit against Bitcoin Core and Square, accusing them of denying that Bitcoin is the original version invented by Satoshi Nakamoto. Wright has asked Bitcoin Core to prove on his behalf that they followed Satoshi Nakamoto’s original concept of Bitcoin as cash for small transactions. He has said he is prepared to drop the charges if they can prove that statement. Wright has made it clear that his case is not against the identity of Satoshi Nakamoto, but against the integrity of the Bitcoin’s design. The case comes after a UK court ruled that Wright was not the creator of Bitcoin, and he has been criticised for denying his claims.
Hong Kong Police Bust $46M Deepfake Crypto Scam
Hong Kong police have arrested 27 people suspected of running an AI cryptocurrency scam that defrauded victims of more than $46 million. The suspects, who allegedly operated out of a 4,000-square-meter factory in Hung Hom, used AI generated videos to trick victims into believing they were socializing with real women and to convince them to invest in fake crypto platforms. The scam mainly targets men in China, Taiwan, India and Singapore. Police officers seized computers, luxury monitors and more than 100 mobile phones during the raid. Those arrested, whose ages range from 21 to 34, were charged with conspiracy to commit fraud and weapons possession. The incident highlights the increasing threat of fraud, which has reportedly caused significant financial losses in recent years.
94% of Asian Private Wealth Investors Looking Into Crypto
A recent report by Aspen Digital showed that almost a third of surveyed respondents believe that the price of Bitcoin could exceed $100,000 by the end of 2024. The survey indicated that high net worth individuals managing between $10 million and $500 million, found that 76% of Asian private wealth has invested in digital assets, up from 58% in 2022. Consensus on the positioning of Bitcoin exchange-traded funds has increased interest in the digital asset, with 53% of respondents investing in these funds. This model illustrates the growth in the cryptocurrency investment world, driven by open governance and the recent launch of ETFs in the United States and Hong Kong.
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