#What Happened with SpaceX and Bitcoin?
SpaceX has recently made headlines by transferring over 1,200 Bitcoin, valued at more than $130 million, to a new wallet. This move included a smaller transaction of approximately $150 in Bitcoin to Coinbase Prime. The reasons behind these transfers remain somewhat ambiguous, but they are likely related to reorganizing storage rather than selling off assets.
This shift in Bitcoin holdings follows significant on-chain activity from SpaceX, including a notable transaction of $153 million in Bitcoin completed in late July, marking the company's first Bitcoin movement in three years. Additionally, earlier this week, the SpaceX-associated wallet facilitated the transfer of $268 million in Bitcoin to new addresses, indicating a robust operational tempo.
Following these latest movements, the wallet still holds 6,970 Bitcoin, down from a total of 8,285 Bitcoin recorded in July 2025. This information highlights the ongoing management of digital assets by the company.
#How is Bitcoin Performing?
On another note, Bitcoin's market performance has been quite dynamic, recently peaking at $112,000, spurred by the release of lower-than-expected inflation figures in the U.S. for September. However, it has since retreated to approximately $109,700, with current trading occurring around $110,300. This fluctuation in value adds another layer of interest for retail investors tracking the cryptocurrency market.
In essence, the actions of SpaceX with Bitcoin, combined with the current state of the cryptocurrency market, present valuable insights and potential considerations for investors looking at digital assets.