Important takeaways
- SpaceX moved 1,163 Bitcoin worth $105 million to a new wallet, following a larger transfer last month.
- The moved funds are believed to be for custody reasons, with SpaceX’s wallet now holding 6,095 BTC.
A crypto wallet associated with SpaceX moved 1,163 Bitcoin worth about $105 million to a new wallet today, according to Arkham Intelligence data. The transfer comes after the Elon Musk-owned space exploration company sent $268 million in Bitcoin to a new address last month.
Analysts suggest that SpaceX may have moved the funds for storage purposes rather than selling them. The tokenized wallet currently holds 6,095 Bitcoin worth nearly $553 million.
After a three-year hiatus, the wallet resumed activity at the end of July, sending out $153 million worth of Bitcoin.
Bitcoin is currently trading near $91,000, up 3.5% in the last 24 hours, according to CoinGecko.