• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

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

user avatar

by Giorgi Kostiuk

10 months 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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Dogecoin Faces Resistance as Market Trends Shift

chest

Dogecoin is struggling to break through key resistance levels as market trends remain bearish.

user avatarMohamed Farouk

Investors Should Monitor US Stock Indices for Informed Decisions

chest

Investors should monitor US stock indices for informed decisions.

user avatarDiego Alvarez

Positive Market Factors Driving US Stock Indices Higher

chest

Positive market factors are driving US stock indices higher, with the S&P 500 up 0.17%, Nasdaq Composite up 0.35%, and Dow Jones Industrial Average up 0.11%.

user avatarKenji Takahashi

Bhutan Enhances Ethereum Strategy with New Staking

chest

The Royal Government of Bhutan has staked 320 ETH, marking a significant step in its Ethereum strategy.

user avatarElias Mukuru

Humanity Protocol Faces Major Price Decline Amid Market Volatility

chest

Humanity Protocol's price has dropped significantly, with a daily trading volume decline of over 64%. The price fell to 0.01172 after an 11% drop, reflecting mixed sentiment across the cryptocurrency market.

user avatarMaria Fernandez

COTI's Garbled Circuits: A Lightweight Alternative to FHE

chest

COTI's Garbled Circuits are significantly lighter and more efficient than Fully Homomorphic Encryption, making them suitable for standard devices.

user avatarGustavo Mendoza

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.