SpaceX’s Bitcoin Fortune Soars Past $1B Milestone as BTC Shatters Records

Elon's rocket money just got a crypto turbocharge.

SpaceX's Bitcoin stash—now valued north of $1 billion—rides the wave as BTC punches through its all-time high. The aerospace giant's cold wallets are hotter than a Falcon 9 exhaust plume.

Wall Street analysts scramble to downgrade gold.

When your side hustle outperforms sovereign wealth funds... maybe it's not a side hustle anymore. Another win for the 'just hold it' investment strategy—take that, hedge fund managers charging 2-and-20 for sub-inflation returns.

SpaceX’s $1B Bitcoin Portfolio: A Strategic Move in Crypto Investment

Data from Arkham Intelligence actually reveals that SpaceX built up its bitcoin holdings between December 31, 2020, and June 10, 2022. SpaceX has left the BTC portfolio untouched since then, and the company’s diamond hands approach is really paying off right now. Bitcoin’s rally from around $30,000 to its current price has boosted the SpaceX Bitcoin valuation quite dramatically, along with proving that the SpaceX crypto investment was a smart move.

Portfolio Growth and Some Recent Activity

SpaceX could have held even more digital assets, but the company moved 17,314 BTC to Coinbase Prime between May 25 and June 10, 2022. The company’s last on-chain activity actually occurred three weeks ago when it moved 1,308 BTC ($150 million at that time) to a new address beginning with “.” This MOVE proved to be merely a relocation rather than a sale, keeping SpaceX Bitcoin holdings intact and untouched.

Combined Holdings from Musk Companies

Tesla also maintains substantial Bitcoin exposure with 11,509 BTC that’s worth over $1.4 billion on its balance sheet right now. Combined, both Musk-affiliated companies actually hold $2.42 billion in Bitcoin, and all of this was acquired at an average price of $32,000. This really showcases the world’s richest man’s pro-innovation stance when it comes to cryptocurrency adoption and the SpaceX crypto investment strategy.

The success of SpaceX Bitcoin holdings reflects the growing acceptance of Bitcoin as a legitimate treasury asset among major corporations. With some analysts projecting Bitcoin could reach $200,000 by year-end, the SpaceX BTC portfolio may see even greater appreciation ahead, and the SpaceX Bitcoin valuation could grow substantially more.