SpaceX has exceeded 1 billion USD in Bitcoin when BTC reached a new peak on Wednesday.
According to Arkham Intelligence, Elon Musk's aerospace company currently holds 8,285 BTC, valued at around 1.02 billion USD. This is not the first time SpaceX has exceeded this threshold - in April 2021, they held 28,000 BTC worth 1.8 billion USD, but sold about 70% in mid-2022 after market shocks such as the Terra-Luna collapse, FTX, and the widespread domino effect. Since then, SpaceX has not purchased additional BTC.
Tesla also sold most of its Bitcoin during the same period, currently holding 11,509 BTC (~1.42 billion USD).
Bitcoin's price rose sharply yesterday, surpassing the July peak, reaching over 124,300 USD before adjusting to 123,117 USD. BTC's Capital reached 2.452 trillion USD, exceeding Google (2.448 trillion USD), becoming the world's 5th largest asset.
The rise of BTC, ETH, and many other cryptocurrencies was driven by expectations that the Fed will lower interest rates in September after July's CPI data remained stable at 2.7% instead of increasing, according to Paul Howard from Wincent.
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The article SpaceX's Bitcoin Amount Exceeds 1 Billion USD When BTC Reaches a New Peak first appeared on CoinMoi.
