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Elon Musk's SpaceX moves approximately $100 million worth of Bitcoin in a large transaction… IPO preparations intensify
Source: DigitalToday Original Title: Elon Musk’s SpaceX Moves Large Amounts of Bitcoin…Preparing for IPO Original Link:
Elon Musk, CEO of Tesla(CEO), has once again moved a large amount of Bitcoin through SpaceX.
On the 10th(local time), blockchain media The Block Crypto reported that SpaceX transferred 1021BTC(approximately $100 million) worth of Bitcoin to two unknown addresses. This is the second transfer this month and the ninth this year, bringing the total Bitcoin holdings in 2024 to 8910BTC($924 million).
SpaceX did not officially disclose the reason for this transfer, but analysts suggest that internal wallet reorganization is possible, based on past cases. After confirming its Bitcoin holdings in 2021, SpaceX reduced its holdings by about 70% following the Terra-Luna collapse and FTX bankruptcy in 2022. According to Arkham(data), SpaceX is currently estimated to hold 3991BTC, but due to data delays, the actual holdings could be higher.
Meanwhile, Tesla, led by Musk, still holds 11,509BTC(approximately $1.24 billion), after selling large amounts in 2022. Additionally, market interest is focused on SpaceX’s IPO plans. Bloomberg reported that SpaceX is preparing for an IPO valued at $1.5 trillion, targeting 2026, but the schedule could be adjusted to 2027 depending on market conditions.
Analysts have raised the possibility that SpaceX transferred 1021BTC using a management service from a certain compliance platform for a specific purpose.