Recently, a dormant SpaceX wallet moved 1,308.45 BTC, valued at approximately $152.85 million, attracting attention from cryptocurrency experts.
BTC Transfer by SpaceX
According to Arkham Intelligence, the transfer was made to a new address on Tuesday. Prior to the main transaction, a small test transfer of 0.000248 BTC (less than $30) was executed, likely to confirm the transaction path. After successfully completing the test, the entire amount was sent in one shot.
Despite the transaction size, the fee was only 0.00024831 BTC, or roughly $29.
SpaceX's Bitcoin Reserves
Blockchain logs show that SpaceX received several large deposits from Coinbase over the past three to four years, ranging from 1,100 to 1,279 BTC per transaction during Bitcoin's peak in 2021. Currently, according to Arkham Intelligence, the company holds approximately 6,977 BTC at Coinbase Prime, valued at around $818.3 million.
Current Bitcoin Market Situation
The Bitcoin market is showing significant changes. Over the past week, the price of Bitcoin has slightly decreased by 3%, now trading just below $119,000. Experts note a decrease in blockchain activity, indicating a shift of assets into safer storage solutions. Analyst Avocado pointed out a drop in the count of Bitcoin's Unspent Transaction Outputs, leading to more efficient blockchain operation.
The recent transaction by SpaceX not only reflects the company’s activity in Bitcoin but also highlights ongoing changes in the cryptocurrency market, indicating a sustained interest in asset storage and redistribution despite price declines.
