- Bitcoin’s price has fallen about 15% after reaching an all-time high of $126,000.
- SpaceX recently moved nearly 2,500 Bitcoin to new wallets, raising questions about a potential sale.
- It is estimated that SpaceX holds just over 8,000 bitcoin, worth approximately $900 million.
- Tesla owns around 10,000 bitcoin, valued at about $1.2 billion.
- Elon Musk has commented on bitcoin’s rise amid concerns over U.S. dollar devaluation tied to funding an AI arms race.
Bitcoin has experienced significant price swings recently, dropping around 15% from its record high of $126,000. Meanwhile, SpaceX, the space exploration company owned by billionaire Elon Musk, has transferred nearly 2,500 bitcoin tokens to multiple new wallet addresses. This activity has raised questions about whether SpaceX plans to sell its bitcoin holdings.
Data provided by Arkham Intelligence shows this is the first apparent movement in SpaceX’s bitcoin holdings since June 2022, when the company reportedly reduced its bitcoin assets by about 70%. Currently, SpaceX holds just over 8,000 bitcoin, which amounts to roughly $900 million in value. Meanwhile, Tesla owns more than 10,000 bitcoin, valued at about $1.2 billion.
The Bitcoin Price dropped sharply in 2022 after Musk sold most of the bitcoin previously purchased by Tesla. Investor Mario Nawfal drew attention to the recent SpaceX transfers on X, asking, “SpaceX is moving bitcoin to new wallets, are they planning to sell?”.
Last week, Musk praised bitcoin’s connection to energy, linking its recent price increase to concerns over the U.S. dollar’s “debasement” intended to finance an AI arms race. He responded to a ZeroHedge X post stating, “AI is the new global arms race, and capex will eventually be funded by governments (U.S. and China). If you want to know why Gold/silver/bitcoin is soaring, it’s the ‘debasement’ to fund the AI arms race,” with his own comment: “True. That is why bitcoin is based on energy: you can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy.”.
This recent activity and commentary come amid warnings of a possible imminent financial crisis affecting the U.S. dollar, which some analysts believe could influence bitcoin’s price in the future. The movements in SpaceX’s bitcoin holdings highlight ongoing investor interest and uncertainty in the cryptocurrency market.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Coinbase Acquires Echo for $375M to Boost Onchain Crowdfunding
- Buffett’s $344 Billion Cash Alert for Wall Street
- Glass Lewis, ISS Urge Tesla Shareholders to Reject Musk’s Pay Package
- U.S. Coalition Fights Banks’ Fees to Protect Open Banking Rule
- UK Digital ID 2029: Is It Following China’s Social Credit System?
