SpaceX Holds 8,285 BTC, Preps 10th Starship Test
SpaceX currently holds around 8,285 BTC, valued at over $950 million according to Arkham data. The company acquired this Bitcoin stash over multiple on-chain transactions in recent years. Meanwhile, SpaceX plans its next Starship heavy-lift rocket test on August 24 local time, marking the vehicle’s tenth flight attempt. Previous Starship launches ended in booster explosions or spacecraft disintegration. This dual development highlights both SpaceX’s expanding crypto portfolio and its resumed efforts to advance reusable rocket technology.
Bullish
SpaceX’s large Bitcoin accumulation underscores growing institutional adoption of crypto, which typically drives market confidence and price support. Similar to Tesla’s BTC purchases in 2021, corporate holdings can signal bullish sentiment. While Starship’s test flight is primarily aerospace news, the combined narrative of tech innovation and sizable Bitcoin reserves may enhance overall positive sentiment among crypto traders in both the short and long term.