SpaceX's Cryptocurrency Assets Grow: $700M Profit from Bitcoin

user avatar

by Giorgi Kostiuk

2 years ago

American aerospace company SpaceX has significantly benefitted from rising Bitcoin prices with a $700 million profit. This is fueled by increased institutional interest and a new spot ETF.

Bitcoin Growth and SpaceX's Profit

SpaceX owns 8,285 Bitcoins valued at $851 million, a significant improvement from November when Bitcoin's value was much lower. The company maintains its policy of not selling its Bitcoins regardless of market trends.

The company insists on its policy of not selling Bitcoins irrespective of market conditions.

Transactions with Coinbase Prime

SpaceX uses Coinbase Prime for handling its Bitcoin transactions. Since 2021, the company has executed more than 30 transactions, helping secure and effectively manage its digital assets.

Increase in Institutional Investments

With the launch of a spot Bitcoin ETF in 2024, the digital currency continues to reach new highs. In November, BlackRock launched its Bitcoin ETF, gathering $527 million.

As institutional interest in Bitcoin grows, companies like SpaceX and Tesla continue to profit from their cryptocurrency holdings. In a rising market, SpaceX is well-positioned to benefit.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

CZ Calls Out Elon Musk Amid Binance Hack

Changpeng Zhao, co-founder of Binance, publicly addressed Elon Musk after his mocking response to a significant hack affecting the exchange.

user avatarMaria Fernandez

RUNE Price Surges Amid Ongoing Investigations into Stolen Cryptocurrency

RUNE's price increased from a local low of 0.59 to approximately 0.67 as investigations into stolen cryptocurrency movements through decentralized platforms, including THORChain, intensified.

user avatarGustavo Mendoza

Trezor Issues Urgent Security Warning for Safe 5 Wallets

Trezor has issued a security warning to customers who purchased Safe 5 hardware wallets through the Southeast Asian reseller CryptoBilis since March 2026, advising them to transfer their cryptocurrency to a newly generated wallet due to a potential hidden cellular implant.

user avatarRajesh Kumar

MEXC Introduces Canton 0Fee Carnival for Traders

MEXC has launched the Canton 0Fee Carnival, enabling users to trade CC spot and futures pairs without fees from October 30 to November 30, 2026, and participate in a prize pool of 1 million.

user avatarMiguel Rodriguez

XRP Ledger Foundation Clarifies Proposal's Routine Nature

The XRP Ledger Foundation clarifies that proposed changes to the token approval process are routine improvements and unrelated to any security incidents.

user avatarLuis Flores

XRP Ledger Developers Propose Tighter Token Approval Controls

XRP Ledger developers propose amendments for stricter token approval controls to enhance protocol safeguards and ensure consistent application of approval requirements.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.