SpaceX Transfers $153M in Bitcoin After 3 Years of Dormancy

SpaceX Moves $153M in Bitcoin After 3 Years of Inactivity

After nearly three years of inactivity, aerospace giant SpaceX has transferred 1,308 BTC valued at approximately $153 million to a newly linked wallet. The move, confirmed by on-chain data from Arkham Intelligence, occurred on July 22 at 13:09 (UTC+8). This transfer marks SpaceX’s first major on-chain Bitcoin activity since June 2022.

Space X Moves Dormant Bitcoin After Three-Year Silence

The funds were previously held in a wallet labeled “15oKQ,” which had not seen any movement since 2022. The Bitcoin has now been sent to a new address, “bc1q8ka…,” also associated with SpaceX. 

https://x.com/lookonchain/status/1947531460598182073 

Analysts believe this transfer was likely internal, possibly to restructure cold storage or improve asset security. There are no signs the BTC has been liquidated.

BTC Holding Strategy Reflects Strategic Intent

The timing of this move coincides with Bitcoins reclaiming the $67,000 level. This has led many in the crypto community to speculate about Arrow space manufacturer strategic intent. The transaction has boosted confidence in the crypto market, especially given Elon Musk’s past influence on digital assets.

Reports indicate SpaceX still holds approximately 6,977 BTC, currently valued around $815 million. Between 2020 and 2022, the company acquired over 9,000 BTC during key bull runs. These purchases closely mirrored Tesla’s own The world largest Cryptocurrency investment strategy during that time.

Although Elon Musk private company crypto holdings were only officially tracked recently, earlier financial documents hinted at substantial The world largest Cryptocurrency positions. 

Arkham Intelligence had previously revealed that Elon Musk private company and Tesla collectively hold nearly $2 billion in BTC. Acquired at an average cost of $32,000 per coin, both companies are now seeing significant unrealized gains.

The July 22 transaction appears to be an internal shuffle, not a market exit. Nonetheless, it underlines the evolving financial footprint of Arrow space manufacturer and its quiet but impactful role in the cryptocurrency space.

What Next For Bitcoin Price?

At the time of writing, the The crypto king price is trading at $118,044, recording a modest 0.55% gain for the day. This follows a steady climb from recent lows, signaling sustained bullish momentum on the daily chart.

Technical indicators show the increase of buyer force. The Relative Strength Index (RSI) is 65.10, which is below the overbought area but has a high momentum towards increasing.

Data on money flow, through the Chaikin Money Flow (CMF), is at 0.07 that translates to minor but positive capital inflows. It is not too aggressive but supports the bullish mood without the indication of overheating.

Source: BTC/USDT daily chart: TradingView

If the bullish pressure is breached, there could be downside risks, sending The crypto king back to test $115,000. A bit of close below this might leave Bitcoin to additional losses to the region of $110,000. A break out could surpass the level of $120, 000 opening the way to the next culmination at $125, 000.

In conclusion, SpaceX reviving dormant Bitcoin contributes to bull sentiment, giving market confidence to market investors who have recovered their positions. In case the institutional players will maintain their holding or transferring of assets, the intense support will contribute to increased support levels and affect price upwaves in the short term.