For the first time in 3 years, SpaceX has moved a significant portion of its Bitcoin holdings, leading to speculation about potential market impacts. ๐ช
The Move:
On July 27, 2025, Arkham, a cryptocurrency intelligence platform, reported that a SpaceX-linked wallet had transferred 1,300 BTC (worth over $153 million) to a new address. This transaction marks the first time SpaceX has moved any of its Bitcoin since June 2022. ๐ฆ
The transfer has raised concerns about a possible sell-off or adjustments to the company's wallet custody, especially since such moves often signal shifts in asset strategy. ๐จ
SpaceX's Bitcoin Holdings:
Despite this recent transfer, the wallet still holds a massive 7,000 BTC (~$830 million), making SpaceX one of the largest Bitcoin holders among major companies. However, the transferred BTC has yet to move from its new address, adding to the uncertainty. ๐ค
Why the Move?
Rumors suggest that this could be part of a larger strategy involving SpaceXโs $1 billion funding efforts to boost its valuation to $400 billion. As SpaceX faces scrutiny from the Trump administration over its government contracts, this move has come at a critical time. ๐๐ผ
Bitcoin and SpaceXโs History:
Back in July 2021, Elon Musk revealed that SpaceX had bought Bitcoin, but the exact amount remained undisclosed. Blockchain data shows that SpaceX likely bought about 26,000 BTC for $860 million in 2021, at an average price of $33,000 per coin.
However, it appears SpaceX has reduced its holdings, with reports in 2023 suggesting that the company sold a portion of its Bitcoin, leaving just over 8,000 BTC. ๐ง
Teslaโs Parallel Moves:
Similar to SpaceX, Tesla, another Musk-led company, also bought a large amount of Bitcoin. Tesla acquired over 43,000 BTC for $1.5 billion in February 2021, but it too has reduced its holdings significantly.
Despite the sales, Musk has repeatedly said that he wonโt sell his Bitcoin and Ethereum holdings. In 2022, he emphasized that physical assets like real estate and stocks were better options than holding cash during inflation. ๐ ๐
Musk's Stance on Bitcoin:
Musk's recent actions have fueled speculation that he may be quietly accumulating Bitcoin. He even liked a post suggesting he was doing so, stoking rumors of an ongoing buying spree.
He has also expressed support for Bitcoin through his proposed โAmerica Partyโ, calling fiat currency โhopelessโ while criticizing the governmentโs $3 trillion deficit. ๐ฅ
Whatโs Next?
With SpaceXโs Bitcoin movements in the spotlight, many are left wondering if the company plans to sell more in the coming months. Could Muskโs other ventures be influenced by these moves? Only time will tell. ๐ฎ
Stay tuned to see how this Bitcoin saga unfolds! ๐
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