SpaceX transferred 1,308 Bitcoin, valued at approximately $153 million, internally between company-controlled accounts, as identified by Arkham Intelligence through on-chain analytics.
This significant internal move suggests a restructuring or security upgrade, maintaining Bitcoin market stability without prompting liquidations or price volatility.
SpaceX Moves 1,308 BTC Internally for First Time Since 2022
SpaceX’s transfer of 1,308 BTC marks its first wallet activity since 2022. Despite this action of considerable value, the funds shifted internally within SpaceX-controlled addresses, as detailed in SpaceX Wallet’s Bitcoin transfer details shared.
Arkham Intelligence identified the move, noting SpaceX’s continuous Bitcoin interest. The action coincides with Bitcoin trading at historic highs, amplifying the financial significance of such holdings. Insights from Shaurya Malwa on cryptocurrency
Internal Transfer Avoids Market Impact, Maintains Stability
The transaction was internal, indicating no immediate market sell pressures. Market reactions have been neutral due to non-activity on exchanges and continued BTC backing strength. A Lookonchain update on Bitcoin transactions underscores this status.
Experts suggest the move underscores a possible treasury strategy or security update. The Bitcoin market remains stable, reflecting no substantial alteration in its global liquidity metrics following this transfer. “Tesla and SpaceX hold over $2 BILLION of BTC combined. They purchased this at an average price of ~$32K. Combined, Elon’s companies are up almost $1.5 BILLION on Bitcoin.” – Arkham Intelligence
SpaceX BTC Portfolio Strategy Shows Resilience Amid Highs
Previously, SpaceX’s BTC transfers to Coinbase did not result in notable market disruptions. The current internal move echoes past portfolio optimizations without initiating sell-offs, as discussed by Crypto Briefing.
Insights from Kanalcoin analysts indicate that Elon Musk’s firms collectively show substantial BTC gains, purchased at an average of ~$32K, affirming strategic Bitcoin holdings despite speculative market pressures.
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