SpaceX BTC wallet awakens from three months dormancy, transfers $268.5M of BTC

Based on on-chain data, SpaceX has transferred $268 million worth of Bitcoin to two new wallets after three months of ￰0￱ transfer marks the second major wallet activity for the firm this ￰1￱ Intelligence tracker revealed today that SpaceX transferred 2,485 BTC worth about $268.47 million to two new ￰2￱ token was distributed as follows: 1,197 BTC to the first address and 1,298 BTC to the second ￰3￱ the transfer, no outgoing sales have been recorded so far, suggesting an internal restructuring of cold storage or a change in custodial ￰4￱ holdings drop to 5.79K on Coinbase Prime Custody The latest wallet transfers mark the second major movement after the July transfer reported on Cryptopolitan, which saw 1,308 BTC worth roughly $153 million at the time being moved after almost three years of ￰5￱ wallet showed no activities afterward, indicating that the movement could have been an internal custodial change.

SpaceX’s total holdings in July were 6,977 BTC held through Coinbase Prime Custody, valued at around $818 million at the time. Currently, the firm has roughly 5,790 BTC via its Coinbase Prime Custody account, valued at around $626.4 million based on Arkham on-chain ￰6￱ far, the aerospace technology firm has not made any official statement, but the on-chain activity suggests it is repositioning part of its Bitcoin ￰7￱ Musk’s firm Bitcoin holdings became public in 2021 when he confirmed that Tesla had acquired BTC. Later, filings revealed SpaceX had written down approximately $373 million in digital asset losses through the 2021-2022 market ￰8￱ the other hand, Tesla sold most of its holdings towards the end of 2022, leaving SpaceX to make infrequent but notable adjustments, which some analysts say aimed to improve security, custody, and transparency.

However, along the way, the automobile firm regained its holdings with over 1,150.9 BTC, currently valued at roughly $1.24 billion based on on-chain ￰9￱ holders rebalance Bitcoin exposure CryptoQuant analysis identified that long-term holders (LTHs) have reduced their holdings by roughly 337,300 BTC, and short-term holders (STHs), on the other hand, have added 351,100 BTC, indicating a significant redistribution of Bitcoin ￰10￱ STH/LTH Supply ￰11￱ Flows vs. Strategy.