Elon Musk’s Company SpaceX Moves Another Large Amount of Bitcoin – Here’s the Possible Reason

Elon Musk's space exploration company, SpaceX, transferred approximately $133.7 million (1,215 BTC) worth of Bitcoin to two new wallets today, marking the company's second major Bitcoin transaction in three days. SpaceX moved approximately $268.5 million worth of Bitcoin on Tuesday, according to Arkham Intelligence data, marking the first significant move since July. Onchain data showing SpaceX's Bitcoin transfer. Analysts believe SpaceX is consolidating its Bitcoin holdings with these transactions, transitioning from legacy wallets to more modern ones. The company reportedly currently holds approximately 6,970 BTC, worth approximately $770 million. Related News: CLAIM: Is the Bitcoin Price Following the Gold Chart 188 Days Behind? So, When It Catches Up to Gold, How Much Will the BTC Price Be? SpaceX sold off approximately 70% of its Bitcoin holdings after the Terra-Luna crash and FTX bankruptcy that shook the cryptocurrency market in mid-2022. There is no evidence of any new purchases since then. Musk's other company, Tesla, similarly sold Bitcoin in a major way in 2022. According to Arkham data, Tesla currently holds 11,509 BTC, equivalent to a current value of approximately $1.24 billion. *This is not investment advice. Continue Reading: Elon Musk’s Company SpaceX Moves Another Large Amount of Bitcoin – Here’s the Possible Reason