SpaceX moves another $134 million in bitcoin to new wallets: Arkham
Quick Take Elon Musk’s SpaceX transferred $133.7 million worth of bitcoin on Friday. Earlier this week the company transferred nearly $270 million in bitcoin.
Elon Musk's aerospace company SpaceX transferred $133.7 million worth of bitcoin on Friday, the second major transfer in less than a week, according to Arkham Intelligence.
On Tuesday, SpaceX transferred approximately $268.5 million in bitcoin, the first major move since July. According to Arkham, SpaceX is holding approximately 6,970 bitcoin worth about $770 million. Bitcoin was changing hands at $110,493.92 as of 1:31 p.m. ET, according to The Block Price Page .
As some of have suggested , it appears that SpaceX is simply transferring bitcoin in an effort to consolidate its BTC while moving the cryptocurrency from older, legacy wallet addresses to new, modern ones.
In mid-2022, SpaceX reportedly reduced its bitcoin holdings by around 70%, possibly triggered by the market-wide shock caused by the Terra-Luna meltdown and the collapse of FTX. SpaceX has not purchased more bitcoin since, according to Arkham data.
Musk's Tesla also sold off a bulk of its bitcoin holdings in 2022. It currently holds 11,509 BTC, worth $1.24 billion, according to Arkham data .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
From Space Exploration to Innovative Marketing: The UK Strengthens Its Position as a Tech Leader
- UK strengthens tech leadership through space defense, education tools, and creative campaigns, showcasing multifaceted innovation. - Raytheon UK secures contract to enhance orbital analysis via NORSSTrack software, supporting national space domain awareness and debris monitoring. - University of Kentucky launches Canva Enterprise to standardize branding, enabling staff to create professional materials with shared templates. - Apple UK invites iPad users to design Christmas projections, continuing public
Bitcoin News Update: Airdrop Frenzy and High Leverage Trigger SAPIEN's Plunge, Revealing the Vulnerable Heart of the Crypto Market
- SAPIEN and GIGGLE faced second-largest crypto liquidations after BTC/ETH, driven by volatile price swings linked to Binance's airdrop and listing speculation. - SAPIEN surged 127% on "Binance HODLer Airdrop" hype but collapsed as leveraged traders faced margin calls amid rapid one-hour $0.32 price spikes. - Analysts highlight market fragility: speculative airdrops and listing rumors trigger explosive gains but expose liquidity risks in leveraged trading environments. - GIGGLE's unclear price drivers sugg
UK and U.S. Coordinate Stablecoin Regulations to Avoid Market Fragmentation and Foster Innovation
- The Bank of England aligns stablecoin rules with U.S. standards to prevent market fragmentation and boost innovation. - Deputy Governor Sarah Breeden announced a Nov. 10 consultation paper, softening earlier strict proposals and emphasizing transatlantic collaboration. - A joint U.S.-UK task force aims to harmonize regulations, accelerating cross-border stablecoin adoption while balancing innovation and stability. - The framework will focus on transparency and consumer protections, though critics warn ra
XRP News Today: XRP's Drive Toward Institutional Adoption Challenges the Trade-off Between Practical Use and Centralized Control
- XRP ownership debates highlight community splits over 1,000-token value claims versus inflation-adjusted critiques and supply concentration risks. - XRP's $2.50 price faces bearish technical indicators, with derivatives data showing declining retail interest and potential support at $2.18. - Ripple's institutional tools (Prime, RLUSD) boost on-chain adoption but raise questions about XRP's role as a funding mechanism versus functional utility. - Analysts predict $4–$10 price potential if macro/regulatory
Trending news
MoreCrypto prices
More
