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Bitcoin Holdings Exceeding $1 Billion in SpaceX’s Treasury

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by Giorgi Kostiuk

an hour ago

SpaceX, Elon Musk's company, has confirmed its significant position in the cryptocurrency space by accumulating Bitcoin worth over $1 billion.

Overview of SpaceX's Bitcoin Holdings

According to Arkham Intelligence, SpaceX holds 8,285 BTC, equivalent to over $1 billion. The company started accumulating Bitcoin in December 2020 and has not sold any since June 2022.

Long-Term Holding Strategy

The absence of BTC sales since the last purchase emphasizes the company's long-term strategy, indicating SpaceX's belief in Bitcoin's future as a digital asset.

Impact on the Cryptocurrency Market

SpaceX's holdings lend legitimacy to Bitcoin as a serious asset for institutional investors, especially as corporate interest in cryptocurrencies rises along with improved regulation and increased transparency from analytics firms.

Thus, SpaceX's strategy regarding Bitcoin could influence other investors and companies looking to increase their crypto assets, ultimately strengthening Bitcoin's position in the market.

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