SpaceX Possibly Reshuffles $153M in Bitcoin Amid Growing Institutional Cold Storage Trends

Key Points

1. SpaceX moved 1,308.45 BTC (valued at ~$152.85M) to a new wallet under Coinbase Prime custody, likely for cold storage.

2. SpaceX's Bitcoin holdings total 6,977 BTC (~$818.3M), accumulated between 2020-2021, peaking at over $1.6B during the 2021 bull market.

3. Bitcoin's UTXO count has consistently decreased since December 2024, with a 3% price decline over the past week, stabilizing below $119K.

4. Institutional cold storage practices prioritize security over speculative trading, reducing available supply and influencing market dynamics.

5. Low transaction fees ($29 for SpaceX's transfer) highlight Bitcoin's efficiency for large-scale institutional transactions.