Quick overview

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Arkham Intelligence reports that Elon Musk’s space exploration company, SpaceX, transferred over $133 million in Bitcoin. The company moved 1,215 Bitcoin to other addresses just a few days after moving a comparable amount of Bitcoin to addresses under its control.

The analytics company wrote, “SpaceX just moved funds totaling $133.7 million.”.

They moved 915 BTC ($101 million) and 300 BTC ($33M) to new wallets. The new wallets have not yet been identified as owned by the Hawthorne, California-based company, in contrast to SpaceX’s transfers earlier this week.

The company held 8,285 BTC, or about $914 million, before the transfers, given that Bitcoin recently traded above $110,000. According to data from BitcoinTreasuries. net, that ranks fourth on the list of privately held companies with Bitcoin treasuries.

Addressees identified as being affiliated with the aerospace company held up to 25,000 Bitcoin in 2022, but by June of that year, that amount had fallen to 8,285 Bitcoin. Until earlier this year, when it consolidated some of its Bitcoin holdings in its first on-chain activity in over three years, SpaceX did not record any on-chain activity following those actions.

The reason for the money transfer and whether the company plans to sell some of its Bitcoin holdings are not immediately apparent.

Tesla, another business owned by Musk, has a close relationship with Bitcoin. The automotive and robotics company is currently just outside the top 10 publicly traded companies with Bitcoin treasuries, holding 11,509 BTC, valued at over $1.3 billion.