SpaceX, led by Elon Musk, has transferred 1,308 BTC worth $153 million after three years of dormancy.
SpaceX Awakens Dormant Wallet
SpaceX transferred 1,308 BTC worth $153 million to a new wallet according to Arkham data. The movement occurred after three years of dormancy across multiple addresses as Bitcoin hovered around $118,000 price levels. The company currently holds 6,977K BTC valued at $821.12 million through Coinbase Prime Custody.
Elon Musk’s Journey with Bitcoin
Elon Musk first spoke publicly about Bitcoin in October 2014 at the Vanity Fair Summit, stating that Bitcoin was probably good but primarily used for illegal transactions. His position shifted in 2020-2021 as corporate Bitcoin adoption grew, with Tesla revealing a $1.5 billion Bitcoin purchase in early 2021. Musk's involvement also included personal ownership of Bitcoin, Ethereum, and Dogecoin after Tesla's acquisition.
Current SpaceX Bitcoin Holdings
SpaceX currently holds 6,977K BTC valued at $821.12 million. This portfolio value reflects ongoing optimization efforts in their Bitcoin treasury strategy. Previous transfers highlight a consistent management approach within their holdings, with recent wallet activities suggesting a focus on portfolio balancing or operational requirements ahead of time.
Recent activities by SpaceX regarding Bitcoin highlight significant shifts in corporate treasury strategies and asset management in response to fluctuations in the cryptocurrency market.
