Elon Musk's SpaceX moves $268M in Bitcoin for first time in 3 months
Key Takeaways
- SpaceX transferred 2,495 Bitcoin worth $268 million in its first on-chain transaction in nearly three months.
- After the move, the SpaceX-linked wallet still holds 5,790 Bitcoin valued at $625 million.
A SpaceX-associated wallet moved around 2,495 Bitcoin (BTC) worth approximately $268 million to new addresses today, Arkham data shows.
The wallet, labeled as belonging to Elon Musk’s space exploration company, last showed activity on July 22 when it transferred $153 million in Bitcoin, its first movement in three years.
After today’s transfer, the SpaceX-linked wallet maintains a balance of 5,790 Bitcoin, valued at approximately $625 million at current prices.
Bitcoin fell below $108,000 amid US-China trade tensions and global macroeconomic uncertainties, which triggered risk-off sentiment across global markets. ETF data shows investors pulling funds, with US spot Bitcoin ETFs posting $40M in outflows on Monday, including $100M in redemptions from BlackRock’s iShares Bitcoin Trust.
Market strategists expect heightened volatility to persist until trade conditions stabilize.
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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