Data from Bitcoin Treasuries places Elon Musk's company among the top 5 private companies, ranking just behind Block.one (responsible for EOS), Tether, and Stone Ridge.
SpaceX launch pad. Source: SpaceX/Pexels.
SpaceX, Elon Musk's aerospace company, moved its bitcoins for the first time in three years on Tuesday (22). Analysts are trying to determine if the company is selling its coins or merely transferring them to new addresses.
Currently, Tesla is the most remembered Musk company for being public, holding 11,509 bitcoins. However, SpaceX also has a considerable reserve of 8,250 bitcoins and ranks among the top 5 private companies with the most coins.
SpaceX moves 15% of its bitcoins to a new address.
The movement of Tesla's bitcoins occurred in the early hours of Tuesday (22), around 3 AM Brasília time, or 10 PM Monday (21) in California, where the company's headquarters is located.
According to Arkham's analysis, the coins were sent to a SegWit type address (starting with bc1q), currently with no indications that they belong to an exchange.
"URGENT: SPACEX JUST MOVED BITCOINS FOR THE FIRST TIME IN 3 YEARS"
"They sent 1,300 BTC (US$ 153 million/R$ 850 million) to a new address this morning," wrote Arkham. "Changing custody wallets or preparing to sell?"
SpaceX moves 1,300 bitcoins for the first time in three years. Source: Arkham/X.
Data shows that SpaceX has maintained a reserve of 8,250 bitcoins since June 2022. Therefore, the transaction represents about 15% of its coins.
Elon Musk's aerospace company once had 28,000 bitcoins at its peak but sold off much of them during the 2022 bear market.
History of SpaceX's bitcoins shows that the company once had 28,000 bitcoins, but now holds only 6,977 bitcoins (US$ 832 million/R$ 4.6 billion). Source: Arkham.
On social media, neither Elon Musk nor SpaceX has commented on the movement. In fact, the billionaire has not focused on the subject for quite some time, since 2022 to be exact.
SpaceX remains one of the largest holders of Bitcoin.
Despite the movement, whether for sale or not, SpaceX continues to be one of the companies with the largest number of bitcoins in reserve.
Data from Bitcoin Treasuries places Elon Musk's company among the top 5 private companies, ranking just behind Block.one (responsible for EOS), Tether, and Stone Ridge.
SpaceX is one of the largest holders of Bitcoin in the world. Source: Bitcoin Treasuries.
When compared to public companies, SpaceX appears close to Block, led by Jack Dorsey, and to the exchange Coinbase, which holds 9,267 BTC and 8,584 bitcoins, respectively.