SpaceX holds 8,285 Bitcoin now worth over $1 billion after recent market gains.
Bitcoin price surge pushes SpaceX’s crypto value back to levels last seen in early 2021.
SpaceX has not bought new Bitcoin since 2022 and its recent transfers appear to be internal.
Elon Musk's SpaceX Bitcoin holdings have crossed the $1 billion mark once more, as Bitcoin surged past previous price records this week. The company currently holds 8,285 BTC, based on data from Arkham Intelligence. This amount is valued at approximately $1.02 billion at current market prices.
https://twitter.com/Cointelegraph/status/1955819170173747357
This marks a return to the billion-dollar level for SpaceX’s crypto assets. The company held more than $1B in bitcoin early 2021. At that time, the value reached $1.8 billion with around 28,000 BTC.
Significant Reductions During Market Downturn
In mid-2022, SpaceX reduced its Bitcoin reserves by almost 70%. The announcement occurred at the same time as other significant crypto events such as the Terra-Luna crash and the FTX collapse. These impacted investor confidence and resulted in a drop of prices of all digital assets.
On-chain data shows that SpaceX did not make additional purchases after that cut. The current balance remains unchanged, and no public statements have confirmed any plans to buy more.
Tesla, also led by Musk, made similar moves during the same period. Tesla currently holds 11,509 BTC, worth around $1.42 billion at present value.
Bitcoin’s Surge Pushes Asset Rankings
Bitcoin’s recent price increase played a key role in lifting SpaceX’s holdings back above the $1 billion mark. On Wednesday, Bitcoin traded at $123,117 after climbing past $124,300. This is a 3% increase in the last 24 hours.
This rally moved the total value of Bitcoin to $2.452 trillion. That figure places it just ahead of Google’s market capitalization, which stands at $2.448 trillion. Bitcoin is now the fifth-largest asset globally in terms of value.
The recent gains come after low inflation data in the United States. Investors reacted positively, driving speculations that interest rates may be reduced in September.
Long-Term Holding Strategy Appears Likely
Blockchain data suggests that SpaceX’s Bitcoin movements are internal. Transfers have not involved public exchanges or large-volume sales. This indicates that the company may be consolidating its holdings rather than liquidating. Such activity points to a possible long-term holding strategy. No significant market volatility followed these transfers, reinforcing the idea that the moves are operational.
Other major corporations like MicroStrategy have also expanded their Bitcoin exposure. This is an indicator of increased institutional involvement with crypto assets. Although SpaceX has not officially confirmed its holdings, market interest is still focused on size and timing.
