Elon Musk’s SpaceXhigh amount of Bitcoin for the third time in the last ten days 
$110,521.68 moved it. Blockchain analysis company Arkham IntelligenceAccording to , the company moved 281 BTC (worth approximately $31.3 million) to a new wallet on October 30. Transfer Following Fed Chairman Jerome Powell’s cautious statements regarding interest rate cuts BitcoinIt was made just as the price of ‘s price dropped below $110,000.
SpaceX’s Bitcoin Transactions Intensified
In-blockchain analytics platform lookonchainreported that SpaceX’s latest transfer was made to a new wallet, unlike previous transactions. From the company’s portfolio of 1,207 BTC, 281 BTC were moved to a new address, while 19.3 BTC were transferred to a new address. BTC Sent to Coinbase Prime. It was stated that the remaining 927 BTCs were transferred to the wallet thought to belong to SpaceX.
SpaceX, which has made three separate transfers in the last ten days, moved a total of approximately $450 million worth of BTC, following Bitcoin transactions of $133.7 million and $268 million, respectively. Experts think that this intense activity may be related to custody arrangements or a possible restructuring of the company’s asset management strategy.
Musk’s Attitude Towards Bitcoin and Its Price Impact
Elon MuskThe transactions made by ‘s company raised the question “Is there a new move coming?” on social media. Musk was positive about Bitcoin for the first time in years on October 14 explanation What he did also attracted great attention. The billionaire entrepreneur described BTC, which he criticized in the past for its energy consumption, as an asset with a real energy basis.
The reactivation of SpaceX, which reduced its Bitcoin assets by approximately 70 percent after the Terra-Luna crisis and FTX collapse in 2022, is interpreted as a strategic preparation in the markets. However Fed Chairman Powell’s vague messages about interest rate cuts in December reduced investors’ risk appetite. Following these developments, the price of Bitcoin dropped by over 2 percent to $108,000. BTC, which has lost more than 4 percent in the last 24 hours, is traded between $ 108,097 – $ 113,642.
