SpaceX Moves $152M BTC After Three Years – Is Elon Musk Looking to Dump Bitcoin?
Main Idea
SpaceX transferred 1,308.45 BTC (worth approximately $152.85 million) after three years of inactivity, raising speculation about potential liquidation, while its total Bitcoin holdings remain at 6,977 BTC under Coinbase Prime custody.
Key Points
1. SpaceX moved 1,308.45 BTC (valued at ~$152.85M) after three years of wallet inactivity, paying a minimal fee of ~$29.
2. The company's current Bitcoin holdings total 6,977 BTC, stored via Coinbase Prime.
3. Historical records show SpaceX received multiple Bitcoin deposits from Coinbase between 2020-2021, with holdings once exceeding $1.6B during the 2021 bull run.
4. SpaceX reportedly wrote down $373M in Bitcoin holdings in 2021-2022, though it's unclear if all were liquidated.
5. Elon Musk confirmed SpaceX's Bitcoin investment in 2021, following Tesla's $1.5B BTC purchase, but Tesla later sold 75% of its holdings in Q2 2022.
Description
Elon Musk’s SpaceX has moved over $152 million worth of Bitcoin after more than three years of dormancy, according to data from blockchain analytics platform Arkham Intelligence. Key Takeaways: SpaceX moved over $152 million in Bitcoin after three years of wallet inactivity. The transaction appears to be internal, with no change in net holdings. SpaceX’s total Bitcoin stash now stands at 6,977 BTC, held via Coinbase Prime. On July 22, a wallet linked to SpaceX executed a large Bitcoin transactio...
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