Elon Musk’s SpaceX has moved $153 million in Bitcoin to a new address, sparking speculation about the company's intentions amid a growing belief in Bitcoin's value.
SpaceX has transferred 1,300 Bitcoin, valued at approximately $153 million, to a new address, marking its first crypto movement in three years. This transfer raises questions about whether it is a custody move or a precursor to selling. The company still holds 6,977 BTC, worth around $827 million, indicating a potential restructuring rather than liquidation. Elon Musk's recent comments suggest a growing belief in Bitcoin as a hedge, making it less likely that SpaceX intends to offload its coins. As of now, Bitcoin is trading at approximately $18,600.