SpaceX’s $152 Million Bitcoin Move Sparks Speculation Amid Coinbase Market Activity

SpaceX has made headlines in the cryptocurrency world by transferring 1,308 BTC (worth approximately $152 million) to an unknown wallet, marking its first major Bitcoin transaction since 2022. The move, tracked by Arkham Intelligence, has sparked speculation among market observers, with some suggesting it could be related to a security upgrade or cold storage migration rather than a sale. This development comes as Coinbase and other major players continue to shape the evolving digital asset landscape. Below is a detailed summary of the event and its potential implications for the crypto market.

SpaceX Moves $152 Million in Bitcoin After Three-Year Dormancy

SpaceX has executed its first major Bitcoin transaction since 2022, transferring 1,308 BTC (approximately $152 million) to an unknown wallet. The move, tracked by Arkham Intelligence, marks the aerospace company's first on-chain activity with Bitcoin in three years.

Market observers note the transaction could represent a security upgrade or cold storage migration rather than an outright sale. SpaceX maintains holdings of 6,977 BTC ($815 million), having previously written down $373 million in bitcoin assets between 2021-2022. The company's crypto strategy remains closely tied to Elon Musk's ecosystem, which includes Tesla's $1.5 billion Bitcoin investment in 2021.

Blockchain analysts highlight the transaction's ambiguity—while the funds haven't reached exchanges, the movement recalls SpaceX's 2022 transfer of 3,505 BTC to Coinbase. The market impact appears muted so far, with Bitcoin's price showing resilience to potential whale activity.

JPMorgan to Accept Bitcoin and Ethereum as Collateral for Loans in Landmark Move

JPMorgan Chase is preparing to offer loans backed by Bitcoin and Ethereum, marking the first direct engagement with crypto collateralization by a global systemically important bank. The initiative, reported by the Financial Times and Reuters, expands the bank's existing acceptance of spot bitcoin ETFs as collateral. The program could launch as early as 2026.

The MOVE signals a broader institutional embrace of digital assets within regulated finance. JPMorgan's initial phase will accept BlackRock's iShares Bitcoin Trust and other SEC-approved spot-BTC ETFs. A second phase will involve lending directly against Bitcoin and Ethereum, provided the assets are held with approved custodians like Coinbase or Anchorage.

The strategy reflects shifting attitudes at JPMorgan, where CEO Jamie Dimon has evolved from calling Bitcoin a "fraud" in 2017 to adopting a more pragmatic stance. The bank is positioning itself to serve institutional and ultra-high-net-worth clients seeking liquidity while maintaining crypto exposure.

SpaceX Bitcoin Wallet Activity Sparks Market Speculation

A dormant Bitcoin wallet linked to SpaceX transferred $152 million worth of BTC after three years of inactivity, reigniting debates about potential market impact. The movement included a test transaction to Coinbase Prime, fueling speculation about possible liquidation.

Blockchain data reveals the wallet last received Bitcoin deposits between 2019-2021, coinciding with Elon Musk's public confirmation of SpaceX's BTC holdings. The aerospace company reportedly wrote down $373 million in Bitcoin assets during the 2022 market downturn, with on-chain activity suggesting possible divestment.

Market observers are scrutinizing whether this activity signals institutional sentiment shifts, particularly given Musk's influential position in crypto markets. The transaction timing raises questions about SpaceX's current Bitcoin strategy amid evolving regulatory and macroeconomic conditions.

SpaceX's Dormant Bitcoin Wallet Transfers $153M in BTC After 3 Years

SpaceX has moved 1,308 Bitcoin (BTC) worth approximately $153 million from a previously inactive wallet, marking its first major transaction in three years. The transfer occurred as Bitcoin traded NEAR the $118,000 level, reflecting renewed activity from Elon Musk's aerospace company in the cryptocurrency market.

Corporate holdings data reveals SpaceX maintains 6,977 BTC ($821.12 million) through Coinbase Prime's institutional custody services. The company originally accumulated its Bitcoin position during the 2021 bull market, mirroring Tesla's corporate treasury strategy of cryptocurrency adoption.

Portfolio tracking shows a slight 1.26% decrease in the value of SpaceX's Bitcoin holdings. The recent movement of funds suggests potential portfolio rebalancing or operational utilization of digital assets by the space technology firm.