SpaceX Transfers $153M in Bitcoin as BTC Reaches All-Time High
SpaceX’s bitcoin Movement Coincides with Record High Prices
SpaceX Transfers Significant bitcoin Holdings
Elon Musk’s aerospace venture, SpaceX, has made headlines recently as it transferred over 1,300 bitcoin (BTC), valued at approximately $153 million, to a new wallet. This transaction, reported by Cryptobriefing, marks the first on-chain activity from this particular wallet in three years, according to data from Arkham Intelligence. The transfer occurred at the end of June, coinciding with bitcoin reaching an all-time high.
The wallet associated with SpaceX still retains a substantial amount of bitcoin, totaling over 6,900 BTC, which is currently worth around $810 million. While the exact motivation behind this transfer remains unclear, it is speculated that the company may be reorganizing its digital asset storage rather than liquidating its holdings.
Tesla and SpaceX’s bitcoin Holdings
As of mid-2025, both Tesla and SpaceX are reported to hold approximately $2 billion in bitcoin. Tesla’s recent earnings report indicates that the company possesses around 11,509 BTC, acquired at an average price of $32,000 per coin. This long-term investment strategy has resulted in unrealized gains nearing $1.5 billion. Following bitcoin‘s surge past $122,800, a notable whale from the Satoshi era sold off 80,000 BTC. At the time of this report, bitcoin was trading above $117,000, according to CoinGecko.
Donald Trump Signs Landmark Stablecoin Legislation
Introduction of the GENIUS Act
In a significant move for the cryptocurrency sector, President Donald Trump has enacted the GENIUS Act, a piece of legislation that aims to provide a regulatory framework for digital currencies. This bill, which received overwhelming support in the House of Representatives with a vote of 308 to 122, follows prior approval in the Senate.
Implications for Stablecoins and the Crypto Market
The GENIUS Act prohibits interest or yield payments on regulated stablecoins, a decision that Deutsche Bank suggests is contributing to a rise in Ether prices. Analysts believe that this regulatory shift is prompting investors to turn to Ether, the second-largest cryptocurrency, as an alternative for yield generation within decentralized finance.
Luke Nolan, a senior research associate at CoinShares, remarked on the significance of this moment for ethereum, noting that while it may be premature to declare a definitive trend shift, various factors are aligning favorably for the cryptocurrency.
The Growing Interest in Stablecoins
Stablecoins, designed to maintain a stable value typically pegged to the U.S. dollar, have seen a surge in usage, particularly among cryptocurrency traders who frequently move funds between different tokens. Additionally, major financial institutions, including Bank of America, are reportedly exploring the launch of their own stablecoins, indicating a growing interest in this segment of the market.
