Elon Musk’s SpaceX Shakes Crypto Markets With $150M Bitcoin Move
SpaceX just flexed its crypto muscles—and the market felt it.
Why This Matters
When Elon Musk’s aerospace giant shifts $150M in Bitcoin, traders scramble. No memes, no hype—just cold, hard blockchain transactions that move markets.
The Ripple Effect
One tweet from Musk can send Doge to the moon, but this? A quiet, institutional-scale play that screams long-term conviction. Or maybe just another tax maneuver—Wall Street’s still figuring that out.
Cynic’s Corner
Because nothing says ‘disruptive tech’ like a billionaire’s company parking cash in volatile assets while retail investors hold the bag.
Tesla’s Crypto Journey and Bitcoin Reversal
Tesla, Elon Musk’s electric vehicle company, has also been a significant player in the crypto market. In early 2021, Tesla made headlines by purchasing $1.5 billion worth of Bitcoin and briefly accepting BTC as payment for its cars. However, this decision was reversed shortly after, with Musk citing environmental concerns tied to Bitcoin’s energy usage. Despite the policy change, Tesla continues to hold 11,509 BTC on its balance sheet, worth over $1.36 billion as of this week.
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Dogecoin Advocacy Remains Strong
While Tesla and SpaceX scaled back their direct crypto activities, Elon Musk’s personal endorsement of Dogecoin has not wavered. He regularly posts about the meme-inspired cryptocurrency, driving both price action and community sentiment. Tesla even allows DOGE payments for certain merchandise. Musk has also suggested integrating Dogecoin into other ventures like X (formerly Twitter), hinting at broader adoption in the future.
This week’s MOVE by SpaceX has reignited speculation about whether Musk is preparing for a renewed crypto push across his businesses—or simply optimizing internal funds. Either way, the transaction reopens the conversation about his ongoing role in shaping institutional crypto trends.
