Editor's PiCK
SpaceX transfers an additional $133.7 million in Bitcoin…moves to rebalance holdings
Summary
- SpaceX recently transferred $133.7 million worth of Bitcoin to an external wallet.
- Arkham said the transfer is a simple asset reallocation and viewed it as likely a move from old wallets to new secure wallets.
- SpaceX sold about 70%% of its Bitcoin after the Terra-Luna collapse and the FTX bankruptcy, and has not made additional purchases since.
Private aerospace company SpaceX, led by Tesla CEO Elon Musk, has recently shown signs of rebalancing its Bitcoin (BTC) holdings.
On the 24th (local time), Arkham Intelligence data cited by The Block reported that SpaceX transferred about $133.7 million (about KRW 192.5 billion) worth of Bitcoin to an external wallet.
Earlier on the 21st, it also moved $268.5 million worth of Bitcoin to two unmarked wallet addresses, which was its first large transfer since July.
It is estimated that SpaceX currently holds about 6970 BTC (about $770 million). Arkham analyzed that this movement is likely a simple asset reallocation and that it may be the process of moving Bitcoin from old wallets to new secure wallets.
Meanwhile, SpaceX reportedly sold about 70% of its total Bitcoin holdings in mid-2022 amid the Terra-Luna collapse and the FTX bankruptcy. There were no additional purchases thereafter. Musk's other company, Tesla, likewise sold most of its Bitcoin that year and currently holds about 11509 BTC (about $1.24 billion).
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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