SpaceX moved 1 308 Bitcoins, valued at approximately $153 million, as its first activity on the blockchain in over three years. The move was reported by Arkham Intelligence tracks the wallets of companies.
Bitcoins (BTC) was withdrawn from 16 Pay-to-Public-Key-Hash (P2PKH) addresses and consolidated into a single SegWit-compatible Pay-to-Witness-Public-Key-Hash (P2WPKH) address, where it remained at time of publication. It could be easier and cheaper to use the BTC that was moved from 16 different addresses to one.
Although the reasons for the move are unclear, it is clear that this was not a reaction but a strategy.
SpaceX was founded in 2002 by Elon Musk. The company was founded in 2002. disclosed its BTC holdings The purchase will be made in July 2021 alongside Tesla. Musk bought the crypto as part of a broader strategy he had to diversify assets for his companies and encourage adoption.
Musk or SpaceX has not yet commented on the matter.
Pentagon seeks SpaceX alternatives as tensions increase
SpaceX consolidates its Bitcoin holdings amid increasing political uncertainties.
Early in June, Donald Trump’s administration threatened to cancel or review about $22 billion of SpaceX contracts. contracts During a rivalry between Trump and Musk, the X. The majority of contracts were still deemed to be valid. “too critical to US interests to eliminate,” This episode reflected a growing political climate and raised concerns about SpaceX’s future relationship with US authorities.
The Pentagon has announced today that it will diversify the partners of the Golden Dome system for missile defense. This $175 billion initiative is aimed at building a network of space-based satellites capable to track and detect incoming threats.
Report by ReutersI am concerned about “over-reliance on SpaceX” The Trump Administration has opened bids for other providers to ensure that the Golden Dome doesn’t depend solely on SpaceX.
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Stablecoin rails and memecoins
Elon Musk has had a complicated relationship with cryptocurrency since the 2021 Bitcoin Bull Run. Elon Musk’s early tweets endorsing Dogecoin, sent the memecoin skyrocketing. But it crashed by 30% following his appearance on the TV sketch comedy show “Saturday Night Live.”
The same year Tesla The company briefly accepted BTC for payment after announcing a purchase of $1.5 billion in Bitcoin. It was reversed soon after due to concerns over the environment. concernsThe company sold a part of its holdings.
Musk laid the foundation for Tesla after he acquired Twitter in 2022. a broader financial ecosystem. X obtained money-transmitter licenses in the US and revealed its backend code early development of a native crypto wallet. Although no public crypto features are available, blockchain integration remains part of the long-term vision.
SpaceX is using stablecoins in the emerging markets to collect Starlink payment, said venture capitalist Chamath Palidhapitiya. marketsBypassing the traditional banking rails. “They don’t want to deal with sending wires… so they swap into stablecoins,” “He said”
SpaceX has a market value of approximately hold About 6,977 BTC worth about $815 Million, placing it amongst the top corporate Bitcoin investors.
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Source: cointelegraph.com
