After years of silence, a portfolio linked to SpaceX suddenly moved $ 152 million in Bitcoin, which aroused new concerns about what it could mean for the next BTC price decision.
According to data from the Blockchain Arkham Intelligence Blockchain Analysis Platform, on July 22, a portfolio linked to the space company of several billion Dollars of Elon Musk, SpaceX, had transferred 1,308.45 BTC, valued at around $ 152.91 million, to a new address.
In particular, the transfer followed after the SpaceX portfolio sent transaction costs of 0.000248 BTC worth $ 29 at Coinbase Prime.
Arkham’s additional data reveal that the last time the portfolio saw a movement was almost 3 to 4 years old when it received several Bitcoin Coinbase wallet entries, with unique deposits ranging from 1,100 to 1,279 BTC.
For the uninitiated, SpaceX first made the headlines in 2021 when Elon Musk revealed publicly during the virtual conference of the word that the aerospace firm had stacked Bitcoin.
Although the exact amount has never been disclosed, the later reports of the Wall Street Journal said that SpaceX had written the value of its Bitcoin holdings of around $ 373 million and sold a non -disclosed part. These events occurred after a sharp drop in bitcoin in 2022.
The chain activity later suggested that the company’s BTC assets could have fallen near Zero by the end of this year, although this is not confirmed.
The company then gradually rebuilt its balance and held around 8,285 BTC by September 2024.
After today’s large -scale transfer, SpaceX now holds approximately 6,977 BTC, worth around 822.65 million dollars. This places the company among the biggest corporate bitcoin holders in the world, follow -up companies such as Microstrategy (MSTR) and Tesla (TSLA), another entity led by muscles. All SpaceX assets are currently kept with Coinbase Prime.
In 2021, SpaceX and Tesla seemed to be Bitcoin, citing environmental concerns linked to its energy consumption, leading Tesla to suspend the payments of the BTC.
However, the technological billionaire has since changed the tone. Earlier this month, Musk revealed his intention to launch a new political party in the United States, which would explicitly support Bitcoin, signaling a renewed embrace of the assets.
As such, many speculate that SpaceX could now position themselves in accordance with other large companies, such as Strategy and Trump Media, who adopted Bitcoin in the context of their cash strategy.
Will the Bitcoin price are blocked?
At the time of the press, it is not clear if the transfer indicates an internal sale or reallocation, but the traders remain cautious because a potential discharge could trigger new sales pressure.
Some market players have minimized the risks, which suggests that this decision could simply be a household interview or a passage to a costs portfolio, given the absence of any official explanation.
The wider market has already absorbed large -scale liquidations. For example, in mid-2024, the German government discharged nearly 50,000 BTC, or around 2.9 billion dollars, all in a few weeks.
This decision launched an initial drop at the bottom – $ 50,000, but prices quickly rebounded over $ 60,000 once the sales pressure has decreased.
Given the current bullish backdrop, the market seems better positioned to absorb any sales pressure which could result from recent transfers without a prolonged impact on the Bitcoin price trend.
During writing, Bitcoin (BTC) was negotiated at $ 118,134, down 3.7% compared to its top of all time. According to Cryptochant’s analysts, the flagship crypto can face short-term pressure, because retail merchants have reduced exposure on markets in the United States, South Korea and Binance.
However, the continuous accumulation of whales seems to counter part of the pressure of the sale, and the techniques suggest that cryptocurrency remains in an upward trend.
Disclosure: This article does not represent investment advice. The content and equipment presented on this page are only for educational purposes.
