In a significant move ahead of its anticipated IPO, SpaceX has transferred over $94 million in Bitcoin, raising eyebrows in the crypto community. The publication provides the following information: this transaction comes as the aerospace giant gears up for a potential $30 billion public offering, which could redefine its market valuation.
SpaceX Moves 1,021 BTC
SpaceX, led by Elon Musk, has moved 1,021 BTC, valued at approximately $94.48 million, as reported by on-chain analytics firm Lookonchain. The transfer was traced to a wallet associated with Coinbase Prime, suggesting that the Bitcoin is being held for custody rather than being sold immediately. This aligns with SpaceX's previous strategies, where the company has sold Bitcoin during market downturns to manage its assets effectively.
Current Bitcoin Holdings
Currently, SpaceX's Bitcoin holdings exceed 82,000 BTC, translating to a value of over $722 million at current market prices. The timing of this transfer is particularly noteworthy, coinciding with the company's plans for a potential IPO that could raise $30 billion, positioning SpaceX as a major player in the public market and potentially one of the largest public raises in history.
In a notable development, Blockchain.com has partnered with SpaceCoin to launch the SPACE token, enhancing access to decentralized satellite internet and finance. This collaboration comes as SpaceX makes significant moves in the crypto space, including a recent Bitcoin transfer. For more details, see read more.
