As an analyst with years of experience in the tech and crypto industries, I find it fascinating to witness SpaceX’s dual bullishness on space exploration and Bitcoin. This isn’t just a moonshot; it’s a multi-dimensional leap that underscores the visionary mindset of Elon Musk and his companies.
SpaceX, Elon Musk’s aerospace manufacturer focusing on space travel and satellite communication, is optimistic about space exploration and recently sent the 4-person Polaris Dawn crew to perform what could be the first private spacewalk. Furthermore, not only does SpaceX have high hopes for space exploration, but its CEO, Elon Musk, also has significant investments in Bitcoin, with approximately half a billion dollars’ worth of Bitcoin holdings.
SpaceX Bullish on Bitcoin: Arkham Intelligence
On September 10, Arkham pointed out SpaceX’s endeavor to create history with its Polaris Dawn mission. The blockchain data company emphasized that SpaceX owns around $500 million in Bitcoin stored in a digital wallet. This suggests that these companies not only have confidence in automotive technologies and space travel but also believe in the potential of Bitcoin.
According to records from Arkham, SpaceX currently holds approximately 8,285 Bitcoins, which equates to around $471.48 million. Notably, the company has not offloaded any Bitcoin within the past two years. The most recent substantial transaction involving 1,260 Bitcoins being sent to cryptocurrency exchange Coinbase took place on June 10, 2022.
According to previous reports, Elon Musk, a fan of Dogecoin and the CEO of companies such as Tesla and SpaceX, is known to have over $1 billion worth of Bitcoin (approximately 19,800 BTC) stored in various digital wallets. Specifically, Arkham Intelligence has reported that Tesla’s Bitcoin reserve is spread across 68 different addresses, with approximately 11,500 BTC held in total. Similarly, SpaceX’s Bitcoin holdings are divided among 28 separate wallets, with around 8,300 tokens stored in this way.
In just the past day, Bitcoin’s price surged approximately 3%, reaching a current value of around $56,900. Earlier today, it dipped to $54,848 as its lowest point, while peaking at $58,041 at some stage. Furthermore, the trading volume has experienced a significant boost of about 40% over the last day, suggesting that more traders are becoming involved.
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2024-09-10 17:03