SpaceX transfers over 100 million USD in Bitcoin, market worries about selling risks.

TooScaredToSell

2025-12-01 01:28:45

Abstract generation in progress

Source: Exame Original Title: SpaceX transfers R$ 560 million in bitcoin and raises concerns in the market Original Link: SpaceX (Elon Musk's company) transferred over $105 million (approximately 560 million reais) in Bitcoin last Wednesday (26th). This move has raised concerns in the market as it may involve asset liquidation, potentially affecting the price of this cryptocurrency.

Blockchain monitoring company Arkham Intel pointed out that 1,163 bitcoins were transferred to two previously unrelated digital wallets. Since then, SpaceX has not made any new transfers, and the market is closely watching for any further actions.

Currently, SpaceX holds about 6,095 bitcoins, valued at approximately $552.9 million at the current exchange rate. The company usually does not publicly explain the reasons for its asset transfers, leaving investors with much room for speculation.

One possibility is that SpaceX has decided to sell part of its Bitcoin holdings to reduce its asset ownership. However, such operations typically involve transferring assets to a wallet on a cryptocurrency exchange, and this has not yet occurred.

Another possibility is that this transfer is merely a routine adjustment of the digital wallet for the management of Bitcoin storage. Existing data supports this hypothesis, ruling out the possibility of a sell-off.

SpaceX's most recent transfers occurred on October 21 and 29, during which the company transferred over 2,600 bitcoins to other digital wallets. These transfers did not involve any sales and only indicated a change in storage location.

But the market's concerns are not entirely unfounded. In 2022, Musk's company sold about 70% of its Bitcoin reserves after a significant drop in Bitcoin. Since then, the company has not made any further sales nor purchased additional Bitcoin.

Elon Musk's other company, Tesla, also adopted a similar strategy, selling off most of its crypto assets in 2022. The company still holds a significant corporate Bitcoin reserve, estimated at around 11,509, worth over $1 billion.

BTC-7.24%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

14 Likes

Reward
14
6
Repost
Share

Comment

0/400

down_only_larry

· 13h ago

What is Musk up to again, transferring 100 million USD worth of Bitcoin, is he going to dump it? --- Transferring 1163 coins at once, that's quite a big move, feels a bit alarming. --- Wait, transferring to an unfamiliar wallet... could it be that he's going to make a move? My coin hoarding plan is going to be ruined. --- Data monitored by Arkham shows that SpaceX is really not easy to deal with, every big move leaves the market guessing. --- If he's going to transfer, then let him transfer, after all, us retail investors can't influence the decisions of the big players. --- I just want to know if Musk is really bearish, or if he's just moving it somewhere for storage. --- With so many Bitcoin holdings, every move is under scrutiny, having money really makes a difference.

View OriginalReply0

rekt_but_vibing

· 14h ago

Elon Musk is playing tricks again, a $105 million transfer directly scared the market, haha. SpaceX's operation really can't hold up... By the way, is it really just a transfer? It feels like this guy dares to do anything. Two unfamiliar wallets? No way, why does it feel a bit fishy? Dumping risk? Come on, give us some new tricks, this same old rhetoric every time. 1163 Bitcoins transferred just like that, I wonder what the rhythm is. No further action but all eyes on the internet, this is what true Be Played for Suckers looks like. Why does it feel like Musk and BTC are a curse? Every time he makes a move, the market has to ponder for three days and three nights. 560 million Reais vanished, if this is a dump, it would blow up. Waiting, what the hell is the next step?

View OriginalReply0

GateUser-e51e87c7

· 14h ago

Is Musk going to dump, or what’s the operation here? Musk makes such a big deal out of transferring Bitcoin, I’m really impressed. 1.05 billion dollars at this scale is indeed something. Panic starts as soon as it’s transferred to a strange wallet? This script is too cliché. Bro, is this a fire sale or a transfer? Can’t figure it out. With SpaceX holding so many BTC, the whole network gets nervous when there’s a transfer. Why does it feel a bit off... Transferring 1163 coins, how many plates does that need to dump?

View OriginalReply0

GateUser-26d7f434

· 14h ago

What trick is Musk playing again? Over 1,000 coins transferred out and rumors of dumping start flying; this routine is too familiar. What's going on? Why did SpaceX suddenly transfer so many coins? Are they about to dump? A $105 million BTC transfer, and the market's reaction is too sensitive, right? They might just be changing wallets. Alright then, back to watching the market. As soon as a transfer happens, they shout about dumping risks; they've brainwashed quite a few people about Bitcoin. Where did this money go? Not announced yet? Question mark face. The cryptobros are going to get restless again; now there's a story to watch. 1,163 coins transferred out, if they were really going to dump, we would have seen the market plummet by now; it's still stable. Sounds scary, but SpaceX has been holding coins for so long that they're used to this operation; no need to be too nervous.

View OriginalReply0

nft_widow