• 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

a year 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

Security Vulnerabilities Exposed in Prediction Markets

chest

Security vulnerabilities exposed in prediction markets, highlighting a flaw in the authentication flow of a third-party login service that allowed attackers to bypass two-factor authentication.

user avatarTando Nkube

Bitcoin Hyper Aims to Enhance Bitcoin's Utility with Layer 2 Solution

chest

Bitcoin Hyper has launched a new Layer 2 solution to improve Bitcoin's scalability and utility for developers by integrating the Solana Virtual Machine, allowing for sub-second transaction finality while maintaining security.

user avatarRajesh Kumar

Ray Dalio Warns of Dystopian Future with CBDCs

chest

Ray Dalio warns that Central Bank Digital Currencies (CBDCs) will compromise transactional anonymity and increase government surveillance over personal finances.

user avatarNguyen Van Long

Bybit Partners with Stockholm Open to Rebrand as BNP Paribas Nordic Open

chest

Bybit has announced its title partnership with the Stockholm Open, rebranding the tournament to the BNP Paribas Nordic Open.

user avatarKofi Adjeman

Coinbase's Unique Super Bowl Ad Receives Polarizing Feedback

chest

Coinbase aired a unique Super Bowl ad that received a polarizing response from viewers.

user avatarSatoshi Nakamura

Crypto Market Shifts Focus from AI as Savior to AI as Utility

chest

The narrative of AI in the cryptocurrency market is shifting from viewing it as a savior to recognizing its utility in optimizing workflows and addressing market volatility.

user avatarJesper Sørensen

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.