Bitcoin Rally Pushes SpaceX’s Crypto Holdings Beyond $1 Billion
SpaceX now holds over $1B in Bitcoin as BTC hits record $124,300, boosting its market cap to $2.45T.
Crypto Laddin
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Bitcoin’s rally to an all-time high of $124,300 has not only made headlines but also boosted Elon Musk’s SpaceX into the billion-dollar crypto club. According to Arkham Intelligence, SpaceX holds 8,285 BTC worth about $1.02B, making it the fourth-largest private Bitcoin holder. This marks a comeback from 2021, when SpaceX had 28,000 BTC worth $1.8B, later selling a portion. Recently, the company moved 1,300 BTC ($153M), sparking speculation about custody changes or sales.
Musk’s crypto journey extends beyond SpaceX — Tesla holds 11,509 BTC worth $1.42B, ranking 10th among public companies. Musk has hinted at integrating crypto into his America Party political plans, stating, “Fiat is hopeless, so yes.”
Bitcoin’s surge is driven by expectations of a September Fed rate cut, with odds above 99%. A softer labor market, cooling inflation, and political pressure have created an ideal setup for risk assets, drawing more institutional investors into Bitcoin.
