Elon Musk’s SpaceX Bitcoin Stash Hits $1 Billion As BTC Climbs To Fresh All-Time High Above $124,000
Main Idea
Elon Musk's SpaceX holds over $1 billion in Bitcoin, contributing to Bitcoin's market cap surpassing $4.2 trillion, despite a recent price correction.
Key Points
1. Bitcoin reached a new peak of $124,000, briefly surpassing Google parent Alphabet's market cap to become the fifth-largest globally.
2. SpaceX currently holds 8,285 BTC, worth around $1.02 billion, according to Arkham Intelligence.
3. SpaceX previously held 28,000 BTC in April 2022 but reduced its holdings by 70% during the market downturn triggered by the Terra-Luna collapse and FTX's fall.
4. Tesla, another Elon Musk company, holds 11,900 BTC, valued at $1.42 billion, making it one of the largest corporate Bitcoin holders.
5. Bitcoin's total market capitalization exceeded $4.2 trillion for the first time in history, though the price later corrected to $121,666.
Description
Bitcoin surged to a new record high on Wednesday evening, surpassing the $124,000 mark for the first time after rewriting the previous $123,000 peak set last month.
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