important notes
The SpaceX wallet still holds 6,970 BTC worth $770.4 million, split between cold storage and Coinbase Prime custody arrangements. Elon Musk posted Floki Inu content and Company X announced Handle Marketplace ahead of potential crypto payment integration features. The move comes during a week in which Musk’s involvement in cryptocurrencies has increased, fueling speculation about adjustments to institutional investors’ exposure.
Elon Musk’s SpaceX-linked crypto wallet detected transferring $133.4 million worth of Bitcoin
BTC
$110982
24 hour volatility:
1.2%
Market capitalization:
$2.21 trillion
Vol. 24 hours:
$4.973 billion
Friday, October 24th, sparking an immediate market reaction.
On-chain data from analytics platform Arkham shows the transfer took place around 4:30pm CET, when Bitcoin was trading around $111,200. Within hours, BTC briefly fell to $109,938, but has recovered towards $110,500 at press time.
Elon Musk’s SpaceX discovers $133 million worth of Bitcoin movement | Source: Arkham
Big moves by big institutions like SpaceX often stoke speculation that a decline is imminent, causing traders to take a more cautious stance. The originating account still holds 6,970.45 BTC, worth about $770.4 million, according to Arkham Intelligence data. These holdings are reportedly split between cold storage and Coinbase Prime vaults, suggesting the potential sale may be part of an ongoing exposure adjustment rather than a full liquidation.
Elon Musk’s crypto interaction week fuels speculation
The $133 million BTC transfer coincides with a week of heightened interaction between Elon Musk and the online crypto community.
On October 20, Elon Musk posted a humorous video of a Floki dog, calling the Shiba Inu-themed dog the CEO of social media platform X, which he acquired in 2023.
Earlier this week, X also announced plans for a “Handles Marketplace,” a platform designed to allow authenticated users to trade unused usernames, a move interpreted as a precursor to Dogecoin integration.
doge
$0.20
24 hour volatility:
1.9%
Market capitalization:
$2.992 billion
Vol. 24 hours:
$14.4 billion
or crypto-based payments within the platform.
The post reignited interest in Dogecoin and Musk-related meme tokens, leading to a temporary spike in Dogecoin trading volume across major exchanges.
As a private company, SpaceX’s total Bitcoin holdings and reserve strategy remain private. However, Elon Musk remains pioneering and supportive of cryptocurrencies, which he publicly expressed during Trump’s 2024 presidential campaign.
Elon Musk sparks interest in AI as SUBBD presales near $1.5 million
Elon Musk’s SpaceX’s $133 million Bitcoin deal has reignited investor interest in emerging AI-powered projects like SUBBD. SUBBD is built to integrate advanced AI monetization tools and connect influencers, brands, and digital communities.
Sub BD advance sale
The ongoing SUBBD presale has exceeded $1.3 million of the $1.4 million target, and the token price is currently $0.057. With just over 48 hours until the next price tier, potential participants can visit the official SUBBD presale site to claim up to 20% staking rewards before the next tier begins.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information but should not be taken as financial or investment advice. Market conditions can change rapidly, so we recommend that you verify the information yourself and consult a professional before making any decisions based on this content.
Ibrahim Ajibade is an experienced research analyst with a background supporting various Web3 startups and financial institutions. He holds a Bachelor’s degree in Economics and is currently studying for a Master’s degree in Blockchain and Distributed Ledger Technology at the University of Malta.
Ibrahim Ajibade on LinkedIn
