SpaceX Moves $268 Million in Bitcoin, First Significant Transfer in 3 Months

Elon Musk’s SpaceX has sparked intrigue with a significant bitcoin transfer after three months of inactivity. The space exploration company, known for its founder’s strong backing of cryptocurrencies like Bitcoin and Dogecoin, recently moved a substantial amount of the cryptocurrency to an unlabeled wallet. According to on-chain analyst ai_9684xtpa, this move involved transferring 2,395 BTC worth $268 million to an unknown address for the first time in three months. The transaction follows a similar transfer from the same SpaceX address in July, which saw a significant $152 million Bitcoin movement, marking the first major Bitcoin transaction from that wallet in over three years. While details remain unclear, this latest action raises questions about potential internal adjustments within SpaceX’s holdings. 1,187 BTC was transferred to the address ‘bc1qq…4sduw’, and 1,208 BTC was sent to ‘bc1qj7…6kqef’. To date, no further Bitcoin transactions or sales have been made from either of these addresses. This action follows a similar transfer in July that involved Coinbase Prime Custody. However, it’s important to note this is not investment advice.