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Significant Bitcoin Transfer by SpaceX
SpaceX, the aerospace company led by Elon Musk, has allegedly shifted over $133 million in Bitcoin (CRYPTO: BTC), causing a notable reaction in the cryptocurrency market.
Transfer Details and Analytics
As reported by the blockchain analytics firm Arkham Intelligence, SpaceX transferred 1,215 Bitcoin to various new wallets just days after moving a similar amount to its controlled addresses.
Announcement of the Transfer
On Friday, the firm shared on X, stating, “SpaceX just moved funds totaling $133.7 million, with 300 BTC ($33M) and 915 BTC ($100.7M) transferred to new wallets.”
Unknown Wallets and Previous Holdings
Importantly, unlike prior transfers, the new wallets are not currently identified as belonging to SpaceX, based in Hawthorne, California. Before these transactions, SpaceX held 8,285 BTC, valued at approximately $914 million, ranking fourth among privately held companies with Bitcoin reserves according to BitcoinTreasuries.net.
Impact on the Market
The substantial Bitcoin transfer by SpaceX is significant as it may influence the Bitcoin market. The company’s prior Bitcoin reserves positioned it among leading private entities holding Bitcoin. Any shifts in such a major portfolio could lead to market volatility and raise questions concerning SpaceX’s future intentions with its Bitcoin holdings, leading to speculation about possible sales or investments.
Comparative Holdings
In addition to SpaceX’s activities, Tesla Inc. also holds a considerable Bitcoin portfolio, with 11,509 BTC, estimated at over $1.27 billion, highlighting the growing trend of significant corporations investing in Bitcoin.
