Whats hidden behind Tesla's wallet ID

Its almost a month after the tweet from technoking of tesla was made public.
The carmaker disclosed last month it invested $1.5 billion in the bitcoin and said it would soon begin accepting it as payment for its products.

The obvious question which came to my mind was to find out the wallet address of tesla to see what other transactions were made through the same wallet id. I was just curious to know if the recent bitcoin fall is anyways associated with the transactions made by Tesla.

I went to blockchair to figure out which wallet address did transactions equivalent to $1.5 billion though i figured out some large transactions could not nail down to one wallet id.

According to different media reports, Tesla reportedly used crypto exchange Coinbase to make its purchase.

Being in the United States, this was the obvious choice. Coinbase is considered to be most secured for the users in United States.

A little bit digging in the matter revealed that the transaction was spreaded over 7 days period.

Now, this was pretty obvious, had it been purchased just on one day then the volumes would have shot up significantly. This would have made it look suspicious and may be regulators would have started inquiries into increased volumes and sudden spikes.

The daily volumes in crypto-currencies are typically much higher than the bitcoin purchase by tesla. The purchase over seven day period whitewashed the purchase and also they probably got the benefit of averaging their large purchase.

Now its not possible to identify who really would be the beneficiary of these bitcoins as Technoking himself would be closely watched by many regulating agencies.

Even if he bought it for the company, its interesting to see who is in the custody of these wallet keys. Is it somebody from insiders team or is it some one from the third party custody service providers.

Though its a corporate push to buy the bitcoin and pump the prices up. Its worth thinking one thing.

When the company is not going to convert the bitcoin into fiat then what did it achieve by pumping the prices of the currency. By pumping the prices of bitcoin before the customers start purchasing, the customers would have to shelve lesser number of bitcoins as against the price of tesla car on that day. Rather if they drop the prices, collect more bitcoins from customers and later if they sell then they make more profits on their holdings.

I am sure the brilliant brains in finance would have definitely thought of this scenario.

Hence, Tesla is setting the precedence in terms of how these transactions should be conducted. Once the wallet IDs are disclosed for the purchase of Tesla cars then a lot more things will get clarity.