SpaceX Moves $153 Million in Bitcoin After Three Years Amid Tesla Q2 Earnings Speculation
Main Idea
SpaceX moved $153 million in Bitcoin after three years of inactivity, sparking speculation about Elon Musk's cryptocurrency strategy ahead of Tesla's Q2 earnings report.
Key Points
1. SpaceX transferred 1,308 BTC to a new wallet after no activity since June 2022, retaining approximately 6,977 BTC worth $822.65 million.
2. SpaceX and Tesla hold their Bitcoin assets under Coinbase Prime custody, with Tesla owning 11,509 BTC valued at $1.36 billion.
3. Investor optimism ahead of Tesla's Q2 earnings is reflected in $47 million in net call options purchased on Tesla stock on July 18.
4. Analysts anticipate Tesla's Q2 earnings to show a 19.6% year-over-year revenue increase and a 15.3% rise in another unspecified metric.
5. The simultaneous Bitcoin activity by SpaceX and Tesla's upcoming earnings report has heightened market volatility expectations.
Description
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