SpaceX’s $1B Bitcoin Stake; BTC Dips on Treasury News
According to Arkham Intelligence, SpaceX’s on-chain Bitcoin holdings have reached over $1 billion, with a current stake of 8,285 BTC acquired between December 2020 and June 2022. Analysts view a recent internal transfer of 1,308 BTC as non-sale, confirming SpaceX has not added new Bitcoin since offloading 70 percent of its holdings in 2022. Bitcoin’s price rose to nearly $124,000 before dipping below $119,000 following US Treasury remarks. Tesla still holds 11,509 BTC, bringing combined Bitcoin holdings for both Musk-affiliated firms to about $2.42 billion. Traders note that macroeconomic trends and on-chain flows will guide Bitcoin’s next moves.
Neutral
The news delivers mixed signals: positive on-chain data shows SpaceX’s Bitcoin holdings remain intact above $1 billion and institutional demand is growing, yet BTC’s short-term pullback on Treasury comments introduces selling pressure. In the short term, traders may see volatility as price reacts to macro news. In the long run, strong holdings by SpaceX and Tesla, coupled with expectations of lower interest rates, underpin Bitcoin’s fundamentals. Overall, the opposing forces of immediate price dips and bullish institutional trends balance out, suggesting a neutral market impact.