SpaceX has transferred approximately 270 million dollars worth of Bitcoin from its crypto wallet, marking the first significant Bitcoin movement by the company in three years. According to the Arkham analytics platform, 1,308 BTC (approximately 153 million dollars) from SpaceX’s main wallet was moved to a new address. The company’s last similar transaction took place in June 2022.
After the transfer, the wallet now holds around 6,977 BTC (approximately 815 million dollars).
It is worth noting that SpaceX purchased 28,000 BTC in 2021, making it one of the largest private holders of Bitcoin. However, due to the cryptocurrency market downturn in 2022, the company reduced its Bitcoin holdings by roughly 70%, leaving 8,285 BTC.
The exact purpose of the recent transfer is not yet clear. Analysts suggest it could be related to:
- Strengthening the company’s internal security measures
- Optimizing the management structure of its assets
Overall, under Elon Musk’s leadership, SpaceX and Tesla together hold approximately 2 billion dollars worth of Bitcoin.
