SpaceX moves $100 million in Bitcoin, possibly for custody arrangements
Crypto Briefing
SpaceX transferred approximately $100 million in Bitcoin, likely as part of ongoing institutional custody adjustments with Coinbase Prime.Summary
SpaceX, Elon Musk's space exploration company, moved 1,083 Bitcoin, valued at about $100 million, according to Lookonchain data. This transaction is interpreted as part of the company's ongoing strategy to manage its cryptocurrency treasury holdings, which includes shifting assets to wallets linked with Coinbase Prime. Coinbase Prime is a custody platform utilized by institutional clients for secure storage and management of digital assets. SpaceX is noted as one of the major privately held companies that maintains Bitcoin on its balance sheet and has recently shown increased activity in adjusting its custody arrangements for enhanced security.
(Source：Crypto Briefing)