SpaceX moves another $134 million in bitcoin to new wallets: Arkham
Quick Take Elon Musk’s SpaceX transferred $133.7 million worth of bitcoin on Friday. Earlier this week the company transferred nearly $270 million in bitcoin.
Elon Musk's aerospace company SpaceX transferred $133.7 million worth of bitcoin on Friday, the second major transfer in less than a week, according to Arkham Intelligence.
On Tuesday, SpaceX transferred approximately $268.5 million in bitcoin, the first major move since July. According to Arkham, SpaceX is holding approximately 6,970 bitcoin worth about $770 million. Bitcoin was changing hands at $110,493.92 as of 1:31 p.m. ET, according to The Block Price Page .
As some of have suggested , it appears that SpaceX is simply transferring bitcoin in an effort to consolidate its BTC while moving the cryptocurrency from older, legacy wallet addresses to new, modern ones.
In mid-2022, SpaceX reportedly reduced its bitcoin holdings by around 70%, possibly triggered by the market-wide shock caused by the Terra-Luna meltdown and the collapse of FTX. SpaceX has not purchased more bitcoin since, according to Arkham data.
Musk's Tesla also sold off a bulk of its bitcoin holdings in 2022. It currently holds 11,509 BTC, worth $1.24 billion, according to Arkham data .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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