SpaceX has just made a major on-chain Bitcoin move for the first time in 3 years. According to data from crypto analytics platform Arkham, SpaceX transferred 1,308 BTC (worth around $152 million) to an unknown wallet earlier today.
The transaction occurred at 13:09 (UTC+8) and is the first since June 2022, when SpaceX sent 3,505 BTC to Coinbase. SpaceX still holds 6,977 BTC, valued at roughly $815 million. The unexpected transfer has sparked curiosity in the community.
The BTC hasn’t moved since the transfer, which shows that it might just be an internal shuffle, likely for added security or cold storage reorganization.
Arkham had previously reported that Tesla and SpaceX together held around $2 billion in Bitcoin. Both companies bought them at an average price of $32,000 and are now up almost $1.5 billion on Bitcoin. While Tesla’s BTC holdings have been public since 2021, SpaceX’s stash was only recently confirmed through wallet tracking. This shows how major firms may hold crypto quietly and profit big over time.
Bitcoin whales made waves in the market recently. On July 17, they moved a massive 61,000 BTC to exchanges, marking the biggest single-day inflow in over a year. This triggered a 4% dip, pulling Bitcoin down from its $123K high to around $117K–$118K.
Cryptoquant analysts note that over the past few days, BTC inflows to exchanges jumped by nearly $17B, rising from $28B to $45B between July 14–18. The spike in inflows was similar to what was seen at the previous market tops. This suggests that whales may have used Bitcoin’s new all-time high to take profits.
However, the daily inflows are now declining, and if the trend continues, it could help ease selling pressure and give the market some breathing room.
SpaceX moved 1,308 BTC, likely for security or cold storage reorganization, marking its first move since 2022.
SpaceX currently holds 6,977 BTC, valued at around $815 million based on recent market prices.
Daily BTC exchange inflows are declining, which could reduce selling pressure and stabilize the market.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Bitcoin (BTC) price has rebounded towards $70,000 on Tuesday, February 10, during the North American…
A growing online debate about whether Bitcoin had the “fairest launch in history” has taken…
Fresh claims circulating in the crypto market suggest that alleged leaked documents and institutional reports…
After the recent crypto market correction, analysts are monitoring altcoins to determine whether prices are…
The Stellar price has a habit of moving when nobody’s watching. And right now, the…
The price of Aster (ASTER) jumped more than 10% in the past 24 hours, rising…
