SpaceX Move 1,308 Bitcoin On-Chain After 3-Year Hiatus
SpaceX don do im first on-chain Bitcoin transaction since 2021, dem gather 1,308 BTC (wey be like $153 million) from 16 old P2PKH addresses put am inside one SegWit P2WPKH wallet, Arkham Intelligence tok. On-chain analytics show say the money move go one unknown address, no be exchange; e be like say na internal custody swap, no be sale. Dem do this consolidation to make fund management easier and to reduce future transaction fee. Dis move happen as political mata dey strong—Pentagon officials dey change suppliers for the $175 billion Golden Dome missile defense program, plus the last US government consider to check SpaceX contract. SpaceX get almost 7,000 BTC (more than $800 million) now, while Tesla 11,509 BTC no move for nine months. Traders believe say na wallet rotation dis be, no be sign say dem wan sell quick, e show say long-term trust in Bitcoin as company treasury asset still dey.
Neutral
Di on-chain consolidation of 1,308 Bitcoin wey SpaceX do show say no new supply dey enter the market and e dey underline say institutional confidence dey still strong, wey suppose support price stability. For short term, e no likely make the transaction cause wahala because dem just move the funds inside, dem no sell am. For long term, to keep nearly 7,000 BTC treasury position show say company get trust for Bitcoin as store-of-value story, e dey give correct background but no immediate price catalyst.