Dormant SpaceX Bitcoin Wallet Suddenly Awakens – 1,308 BTC On the Move After 3-Year Hibernation
A cryptocurrency wallet linked to SpaceX just stirred from its slumber—and it's packing serious weight. The previously inactive address moved a staggering 1,308 BTC after gathering dust for three full years. Cue the market speculation.
Where’s it going? Why now? The blockchain doesn’t lie—but it doesn’t explain either. Meanwhile, Wall Street 'experts' are probably still trying to short Bitcoin with leverage.
One thing’s certain: When whales wake up, the crypto seas get choppy. Buckle up.
Key Insights:
- SpaceX transfers 1,308 BTC worth $153M to new wallet after dormancy
- Company holds 6.977K BTC valued at $821.12M through Coinbase Prime Custody
- Historic transfers show SpaceX accumulated Bitcoin during 2021 bull market period
SpaceX’s dormant Bitcoin wallet awakened after three years, transferring 1,308 BTC worth $153 million. The movement occurred as Bitcoin hovered around $118,000 price levels recently.
The Elon Musk-led firm currently holds 6.977K BTC valued at $821.12 million through custody. The company accumulated bitcoin during 2021 alongside Tesla’s corporate treasury strategy.
SpaceX Awakens Dormant Wallet
SpaceX transferred 1,308 BTC worth $153 million to a new wallet according to Arkham data.
The movement occurred after three years of wallet dormancy across multiple addresses. The transfer happened as Bitcoin traded around $118,000 price levels recently.
The company currently holds 6.977K BTC valued at $821.12 million through Coinbase Prime Custody.
Portfolio values indicate Bitcoin holdings valued at $821.12 million, decreasing in value by 1.26%. The portfolio value stood at $821,116,068, which is being maintained through institutional custody services.
Just recently, 1.308K BTC valued at $152.91 million was moved, a brief few hours ago. Transactional history shows transfers have been in large numbers over the last three years.
Previous transactions among them are 1.262K BTC worth $36.88 million, which was sent three years ago. Another 1.104K BTC worth $32.26 million was sent during the same time. A number of 1.139K BTC transfers worth $33.29M were also sent three years ago.
SpaceX accumulated Bitcoin during 2021 bull market, reaching peak holdings of 25,724 BTC.
The company joined Tesla in corporate Bitcoin adoption strategies during that period. Current holdings show substantial reduction from peak 2021 accumulation levels.
Elon Musk’s Bitcoin Journey From Skepticism
Elon Musk first spoke publicly about Bitcoin in October 2014 at Vanity Fair Summit. He stated Bitcoin was probably good but viewed it primarily for illegal transactions.
Musk clarified he did not own any Bitcoin personally at that moment. His involvement shifted during 2020-2021 as companies began purchasing Bitcoin treasury holdings.
Tesla revealed $1.5 billion Bitcoin buy in early 2021, spearheading corporate adoption. Musk included #bitcoin in his X bio, fueling cryptocurrency price pumps.
Musk claimed he owns Bitcoin, Ethereum, and Dogecoin personally after Tesla acquired some.
His first direct financial exposure was around 2021 timeline coinciding with corporate strategy. SpaceX followed the lead of Tesla in Bitcoin treasury stockpiling during bull market.
In 2021, Elon Musk announced that SpaceX owns Bitcoin, as does Tesla.
SpaceX had around 25,724 BTC in Feb 2021 when they were making huge buys. They were part of the trend where companies started buying Bitcoin.
SpaceX reportedly employs stablecoins in certain Starlink payments in other nations. This scheme aims at nations with volatile currencies to function in a better manner.
Existing holdings exhibit decline from historical highs indicative of portfolio management operations. Recent wallet activity is consistent with current Bitcoin treasury optimization efforts.
SpaceX Currently Holds Over $800m Worth BTC
SpaceX currently holds 6.977K BTC worth $821.12 million. The total portfolio value was $821,116,068 during press time.
SpaceX followed Tesla in corporate Bitcoin adoption in the 2021 institutional wave. Recent wallet activity shows ongoing optimization of Bitcoin treasuries across different addresses.
Past transfers show regular maintenance activities within three-year intervals regularly. Activation of dormant wallet shows portfolio rebalancing or operational requirements ahead of time.
Its two-pronged approach is Bitcoin as treasury reserve and stablecoins for commercial purposes. This approach satisfies store of value and payment efficiency needs.
The previous $153 million transfer was at the time Bitcoin was trading at $118,000 levels. Bitcoin also retreated after it reached an all-time high of $123,000.
