On July 22, a wallet linked to SpaceX transferred 1,308.45 BTC $BTC , worth approximately $152.85 million, to a new address.
A wallet linked to Elon Musk's SpaceX has moved over $152 million in Bitcoin after more than three years of inactivity, according to data from blockchain analytics platform Arkham Intelligence.
On July 22, a wallet linked to SpaceX executed a large transaction, moving 1,308.45 BTC, worth approximately $152.85 million, to a new address.
The fee paid for the transaction was just 0.00024831 BTC (about $29), according to onchain data.
SpaceX wallet returns active with biggest move in three years
The transaction occurred only after SpaceX's wallet sent a small transaction of 0.000248 BTC (less than $30) to Coinbase Prime.
The transaction log shows that SpaceX received several inflows of Bitcoin from Coinbase wallets over a period of three to four years ago. On those occasions, the individual deposits ranged between 1,100 and 1,279 BTC.
At the time, the dollar value of Bitcoin held by SpaceX had exceeded 1.6 billion during the 2021 bull run. This value has now halved, and the BTC on its balance sheet now amounts to approximately $818.3 million.
According to data collected by Arkham, SpaceX now has a total of 6,977 BTC in reserves, stored at Coinbase Prime.
The address that received the tokens continues to hold them in escrow. This suggests that the wallet was simply reorganized, perhaps for greater security or to reorganize the cold storage protocols.
SpaceX revealed it owns Bitcoin in 2021
In 2021, Elon Musk revealed that SpaceX owned Bitcoin, but without providing specific figures.
It later emerged that by early 2021, SpaceX had accumulated around 25,724 BTC , then valued at around $373 million.
According to some documents analyzed by the Wall Street Journal , the company may have sold all or almost all of its BTC assets between 2021 and 2022, although there is no certainty about this.
According to the article, these assets were recorded on the balance sheet, but it is not known whether they have all been sold.
Musk, a well-known cryptocurrency advocate, has frequently influenced markets with his comments on Bitcoin and Dogecoin.
The entrepreneur had publicly confirmed SpaceX's investment in Bitcoin in 2021, following Tesla's purchase of $1.5 billion in BTC, a transaction that coincided with Bitcoin reaching all-time highs.
Tesla subsequently sold 75% of its Bitcoin in Q2 2022 for $936 million, keeping only $184 million in BTC.
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