Elon Musk May Sell Bitcoin in 3 Years: Transfer from SpaceX Before Tesla!
SpaceX broke its three-year silence today with a transfer of Bitcoin (BTC) worth $153 million, drawing attention ahead of Tesla's financial report to be announced tomorrow.
According to data shared by blockchain analysis company Arkham, the wallet address belonging to Elon Musk's space transportation company SpaceX (15oKQ7…i7Jf1G) sent approximately 1,308 BTC, valued at about $153 million, to another unidentified address (bc1q8k…phartf) today.
The last time SpaceX made a transfer was on June 10, 2022, when it sent 3,505 BTC worth $102 million to the Coinbase exchange, and there had been no outflow from the wallet for nearly three years since that transfer. Currently, SpaceX's total Bitcoin holdings are around 6,977 BTC, which is approximately worth $815 million at current market value.
This significant Bitcoin movement by SpaceX coincides with the upcoming financial earnings report of Elon Musk's other company, Tesla, to be published tomorrow. For this reason, market experts believe that Elon Musk may have made a new decision regarding the Bitcoin strategies of his companies.
Tesla has previously made headlines with its Bitcoin trading, significantly impacting cryptocurrency markets, particularly with the amount of Bitcoin it holds on its balance sheet. After this transfer, all eyes are on Tesla's report tomorrow. If one of Musk's companies decides to sell Bitcoin, the implications for the market could be significant.
