SpaceX, the renowned aerospace company, has transferred a significant amount of Bitcoin valued at approximately $94.5 million. The company moved 1,021 Bitcoins to two separate unidentified addresses through Coinbase Prime. This marks SpaceX’s ninth Bitcoin transfer this year, with a total of around 8,910 Bitcoins moved in recent months, amounting to nearly $924 million. Analysts suggest that SpaceX is reorganizing its Bitcoin holdings by shifting assets from older to newer addresses to enhance security and reduce transaction costs. Currently, SpaceX holds about 3,991 Bitcoins valued at roughly $367 million. At the peak of the 2021 market rally, the company’s Bitcoin holdings were worth over $1.6 billion; however, due to market uncertainties in 2022, SpaceX reduced its Bitcoin assets by nearly 70%.
This Bitcoin transfer coincides with SpaceX’s preparations for a potential mega initial public offering (IPO). The company aims to raise over $30 billion through its IPO, which could value SpaceX at approximately $1.5 trillion. This would surpass Saudi Aramco’s 2019 record investment of $29 billion. The IPO is expected to occur in mid to late 2026, though market conditions could delay it until 2027. Post-IPO, investors will have opportunities to participate not only in SpaceX’s spacecraft, satellite, and Starlink internet services but also in its cryptocurrency holdings. Like Elon Musk’s other ventures, SpaceX is an early adopter of Bitcoin and has utilized Dogecoin to fund its lunar missions. Market analysts remain optimistic about SpaceX’s valuation growth and IPO success, signaling a new era in space exploration and cryptocurrency integration.
Source: bitcoinmagazine
