SpaceX’s Bitcoin Holdings Surge Past $1B Milestone as BTC Shatters Records at $124K+
Elon Musk's galactic bet pays off—big time.
Crypto goes interplanetary
SpaceX just joined the three-comma club. The aerospace giant's Bitcoin stash now eclipses $1 billion in value as BTC rockets past $124,000—another all-time high that left traditional investors scrambling to explain why they 'don't get the tech.'
When moon? Now.
No need for diamond hands when your portfolio's riding a Falcon 9. The surge comes as institutional FOMO reaches escape velocity, with pension funds and corporate treasuries finally realizing crypto eats 60/40 portfolios for breakfast.
Wall Street's reckoning
Meanwhile, Goldman Sachs analysts downgraded BTC to 'neutral' at $120K—proving once again that banks will be the last to board this rocketship. As one trader put it: 'TradFi always brings an abacus to a quantum computing fight.'
TLDR
- SpaceX’s Bitcoin portfolio has grown to more than $1 billion after Bitcoin reached a record price of $124,457.
- The company holds 8,285 BTC purchased between December 2020 and June 2022 and has not sold since mid-2022.
- Tesla holds 11,509 BTC valued at over $1.4 billion at the current market price.
- Combined Bitcoin holdings of SpaceX and Tesla are worth $2.42 billion at today’s prices.
- Bitcoin has rebounded over 9 percent from its early August low of $111,982 to set a new all-time high.
SpaceX’s Bitcoin portfolio has surged past $1 billion after Bitcoin reached a record price of $124,457. The company holds 8,285 BTC, bought between December 2020 and June 2022. This rise represents over 300% growth since its last purchase.
SpaceX Bitcoin Holdings Cross Billion-Dollar Mark
SpaceX purchased its bitcoin at an average of around $32,000 per coin. However, Bitcoin’s current value of $122,422 has multiplied the portfolio’s worth significantly. The company has not sold any BTC since June 2022.
In mid-2022, SpaceX moved 17,314 BTC to Coinbase Prime, reducing its holdings to the present figure. Despite that, the remaining balance has grown steadily with the market. This strategy has proven lucrative as Bitcoin broke its previous $123,181 record.
Three weeks ago, SpaceX transferred 1,308 BTC worth $150 million at the time to a new wallet, “bc1q8.” The transaction was purely for relocation and did not involve a sale. Since then, the coins have remained in the company’s control.
Tesla Maintains Larger Bitcoin Reserve
Tesla, another Elon Musk company, currently holds 11,509 BTC. At the current price, Tesla’s holdings are valued at over $1.4 billion. The company was among the first publicly traded firms to include Bitcoin in its balance sheet.
Tesla’s Bitcoin acquisition price is also estimated at around $32,000 per coin. The combined holdings of Tesla and SpaceX now total $2.42 billion. These investments highlight a consistent long-term approach to cryptocurrency by Musk-led companies.
Both companies have experienced significant portfolio growth due to Bitcoin’s market performance. This increase has occurred despite no major sales since their last acquisition period. Analysts note that this reflects strong confidence in the asset’s potential.
Bitcoin’s Continued Price Momentum
Bitcoin’s latest surge followed a 9% rebound from its August 3 low of $111,982. The market’s momentum has pushed the cryptocurrency to new highs. This rise has rewarded holders like SpaceX and Tesla substantially.
Several market analysts predict Bitcoin could reach $200,000 by year-end. Such projections are based on the current rally and ongoing demand growth. If achieved, SpaceX’s holdings could increase by billions more.
These valuations underline how strategic holding periods can yield substantial returns. As long as prices remain elevated, SpaceX’s Bitcoin position will remain a significant asset. Tesla’s reserve further cements Musk’s prominent role in corporate cryptocurrency adoption.
