SpaceX moves $270 million worth of bitcoin in first transfer since July: Arkham
SpaceX transferred approximately $268.5 million in 2,495 BTC, marking its first movement of holdings since July.Summary
SpaceX, Elon Musk's aerospace company, moved about $268.5 million worth of Bitcoin (2,495 BTC) on Tuesday, according to Arkham Intelligence data. This is the first time the company has moved its BTC holdings since July 24, and the first material change to its total reserve since June 2022, which has consistently stood around 8,285 BTC.
The purpose of the transfer to several unmarked wallet addresses is unknown, though one analyst suggested it might be a wallet reorganization, referencing past instances where SpaceX movements were linked to Coinbase Prime custody addresses.
SpaceX reportedly reduced its BTC holdings by about 70% in mid-2022 following major market shocks. In contrast, Musk's Tesla currently holds 11,509 BTC, valued at $1.24 billion.
(Source：The Block)