After years of silence, a SpaceX-connected wallet has suddenly moved $ 152 million in Bitcoin, which has made a new concern about what it could mean for the next price movement of BTC.
According to facts From Blockchain Analytics platform Arkham Intelligence, on July 22, a wallet had linked to the Elon Musk space company, SpaceX, 1,308.45 BTC, worth around $ 152.91 million, to a new address.
It is remarkable that the transfer followed after the SpaceX wallet sent a small transaction costs of 0.000248 BTC worth $ 29 to Coinbase Prime.
Additional information from Arkham reveals that the last time the wallet saw every movement, almost 3 to 4 years ago when the multiple Bitcoin inflow received from Coinbase portfolios, with a few deposits ranging from 1,100 to 1,279 BTC.
For the Non -Intagen, SpaceX made the headlines for the first time in 2021 when Elon Musk unveiled publicly during the Virtual Conference ₿ Wag that the space company Bitcoin had stacked.
Although the exact amount was never announced, the later reporting from the Wall Street Journal indicated that SpaceX had written down the value of his Bitcoin interests with approximately $ 373 million and sold an uninhibited part. These events took place after the sharp fall in Bitcoin in 2022.
Activity at the chain later suggested that the BTC companies of the company may have fallen to almost zero by the end of that year, although this is not confirmed.
The company then gradually rebuilt its balance and kept about 8,285 BTC by September 2024.
After today’s large -scale transfer, SpaceX now has around 6,977 BTC, with a value of approximately $ 822.65 million. This places the company one of the world’s largest business Bitcoin holders, trailing companies such as MicroSstrategy (MSTR) and Tesla (TSLA), another entity guided by Musk. All interests of SpaceX are currently in the Coinbase Prime.
In 2021, both SpaceX and Tesla seemed to distance themselves from Bitcoin, with reference to environmental problems with regard to its energy consumption, so that Tesla suspends BTC payments.
However, the technical billionaire has shifted the tone since then. Earlier this month, Musk revealed plans to launch a new political party in the US, one that would explicitly support Bitcoin, which indicates a renewed embrace of the asset.
As such, many speculate that SpaceX could now position itself in accordance with other large companies, such as strategy and Trump -Media, who have taken over Bitcoin as part of their treasury strategy.
Will Bitcoin Price Crash?
From the moment of the press it remains unclear whether the transfer signals a sale or internal redistribution, but traders remain careful because a potential offload can cause a new sales pressure.
Some market participants have traced the risks, which suggests that the move can simply be a routine household or a shift to a new wallet, given the absence of an official statement.
The wider market has previously absorbed large -scale liquidations. In mid -2024, for example, the German government loaded nearly 50,000 BTC, worth around $ 2.9 billion, all within a few weeks.
That movement led to a first dip to the low $ 50,000, but the prices quickly returned to $ 60,000 as soon as the sales pressure decreased.
Given the current bullish background, the market seems better positioned to absorb every sales pressure that can result from the recent transfers without a long -term impact on Bitcoin’s price trend.
During writing, Bitcoin (BTC) was traded at $ 118,134, with 3.7% a decrease compared to his all time. According to analysts in cryptoquant, the flagship Crypto can undergo downward pressure in the short term, because retail traders are reportedly reducing exposure in the US, South Korea and Binance.
Continued whale accumulation, however, seems to compensate for part of the sales side, and technical means suggest that the cryptocurrency remains in an upward trend.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
