SpaceX Moves $153M Bitcoin After 3 Years – Musk’s Crypto Strategy Heats Up
The post SpaceX Moves $153M Bitcoin After 3 Years – Musk’s Crypto Strategy Heats Up appeared on BitcoinEthereumNews.com.
SpaceX sent 153 million dollars in Bitcoin 3 years after not doing anything. Tesla and SpaceX have a combined holding of Bitcoin currently worth $2 billion in profits. The transfer is an indication of re-deployment or positioning and not imminent sale. SpaceX, the aerospace company founded by Elon Musk, has moved more than 1,300 BTC worth more than 153 million dollars, being the first Bitcoin transfer after three years, according to blockchain analytics firm Arkham Intelligence. The inactive wallet, the last movement in which was registered in the middle of 2022, currently contains almost 7,000 BTC (more than 810 million dollars at the current rates). Source – X This is a substantial transfer that came shortly after Bitcoin made a new all-time high, trading above 122,800, sparking speculation over Musk crypto plans. Both Tesla and SpaceX have over 2 billion Bitcoin that they bought at an average of 32,000 dollars per coin, giving them an unrealised profit of almost 1.5 billion dollars. Bitcoin Move Sparks Speculation Amid Market Surge The motive behind the transfer remains unclear. Industry observers believe this movement may entail a restructuring of SpaceX’s cold storage or treasury management and not an impending sale. The receiving wallet has not yet sent any outbound transaction, which is an indication that it would lean towards more security and not liquidation. SpaceX has already sold large volumes of Bitcoin to exchanges in 2022, but this new activity indicates a new interest in digital assets. Since Musk is widely known to be an advocate of cryptocurrencies, the act has fueled the discussion about the future applications of Bitcoin in his companies or the projects that he is associated with. Musk’s Crypto Holdings: A $2 Billion Bet The data presented by Arkham shows that altogether, the companies owned…
