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.
You may also like
Bitcoin price taps $116K as analysis weighs odds of CME gap fill
Solana News Today: Western Union Makes a 164-Year Transition from Telegraph to Blockchain-Based Digital Remittances
- Western Union launches Solana-based USDPT stablecoin via Anchorage Digital, targeting faster, cheaper cross-border payments. - Pegged 1:1 to USD, USDPT aims to leverage 100M customer network and compete with PayPal/MoneyGram in digital remittances. - Stablecoin adoption surges 70% post-Genius Act, with B2B transactions now dominating 66% of $10.2B monthly volume. - USDPT prioritizes regulatory compliance and aims to cut remittance costs by 50% in high-fee markets like Asia/Africa. - Western Union's block
Bitcoin News Update: Zcash Soars by 496% as Privacy Technologies Gain Traction Amid Regulatory Challenges
- Zcash (ZEC) surged 496% in 3 months due to privacy shielding tech adoption and rising on-chain activity, trading near $235.59. - Over 30% of ZEC supply is shielded via zero-knowledge proofs, boosting transparent layer demand while futures open interest hit $307.78M. - Price targets $300+ if it breaks above 20-period EMA, but regulatory hurdles and macro risks like U.S.-China tensions pose adoption challenges. - Privacy-focused crypto outperformed Bitcoin/Ethereum amid volatility, with institutional/retai
Solana News Update: Widespread Crypto Adoption Accelerates as Institutional Staking Surges by $2 Billion
- Coinbase Prime and Figment expanded institutional staking to Solana, Cardano, and 5+ PoS networks, enabling $2B+ in onchain yield generation via integrated custody solutions. - The partnership combines Figment's $18B+ staking infrastructure with Coinbase's security controls, offering institutions diversified validator access without fund transfers. - Bitwise's BSOL Solana ETF debuted with $222.8M AUM and 7%+ yield, reflecting growing institutional demand for ESG-aligned crypto assets and accelerated ETF
Trending news
MoreCrypto prices
More
