SpaceX, the aerospace company co-founded by Elon Musk, has recently seen its Bitcoin holdings surpass $1 billion. This comes as Bitcoin prices hit a new record high, fueled by hopes for an impending U.S. interest rate cut. Arkham Intelligence data reveals that SpaceX currently owns 8,285 Bitcoin worth about $1.02 billion. This is not the first time SpaceX’s crypto holdings have surpassed this mark: in April 2021, it held over $1.8 billion in Bitcoin during a period of rapid price growth. However, in mid-2022, SpaceX significantly reduced its Bitcoin holdings to mitigate market volatility following significant events like the Terra-Luna collapse and the FTX exchange’s bankruptcy. Meanwhile, Tesla, another company led by Musk, sold most of its Bitcoin holdings in 2022 as a cautious approach during the market downturn. Bitcoin prices recently hit new highs before experiencing a slight dip after a volatile period. The surge is attributed to expectations for a potential Fed interest rate cut and positive signs within the crypto market. Analysts predict continued growth, potentially leading to Bitcoin surpassing Apple’s valuation of $3.4 trillion in the coming years.