SpaceX's BTC holdings surpass $1 billion; the Treasury's statement against increasing holdings sparks market fluctuations
Recent on-chain data shows that SpaceX currently holds 8,285 Bitcoins, valued at over $1 billion at current market prices. According to Arkham Intelligence tracking, these Bitcoins were mainly accumulated gradually between December 2020 and June 2022.
It is worth noting that three weeks ago, the company transferred 1,308 BTC to a new address. Although some speculate that this may have been part of the reason for yesterday's decline, analysts believe this is related to internal wallet organization rather than a reduction in holdings.
Additionally, on the same day the news broke, U.S. Treasury Secretary Scott Basset explicitly stated that the government would not increase Bitcoin holdings as a strategic reserve.
Basset's statement immediately triggered a market reaction, causing Bitcoin's price to drop from a historic high of $124,000 to below $118,000, with a daily fluctuation exceeding 5% at one point.
This pullback has also resulted in a significant reduction in the total valuation of holdings among major corporations, and the value of SpaceX's Bitcoin assets has fluctuated accordingly.
Looking back at historical holdings, SpaceX held as much as 28,000 Bitcoins in April 2021 but significantly reduced its holdings during the market turmoil in 2022.
This contrasts with Tesla's behavior, which currently still holds 11,509 Bitcoins, valued at approximately $1.4 billion. Together, the two Musk-owned companies hold a total of $2.4 billion, making them important representatives in the corporate holding camp.
Market analysis indicates that while the Treasury's statement has suppressed price movements in the short term, it has also eliminated potential risks of government sell-offs.
The future direction of the market may still depend on macroeconomic conditions, institutional capital flows, and the holding movements of large players like SpaceX.
In summary, under the current environment, even slight changes in corporate holding strategies could trigger a chain reaction in the market. Investors need to closely monitor relevant dynamics, and leveraged users should be prepared for risk hedging.
