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SpaceX’s bitcoin stash has once again crossed the $1 billion threshold as the cryptocurrency hit a fresh all-time high on Wednesday. Data from Arkham Intelligence shows Elon Musk’s space company holds 8,285 BTC, now worth about $1.02 billion, as bitcoin surged past $124,000. This marks a return to billion-dollar levels after the company previously reduced its exposure in 2022 following market turbulence.
Back in April 2021, SpaceX held nearly 28,000 BTC valued at $1.8 billion before trimming its position during the Terra-Luna crash and FTX collapse. Tesla also downsized its bitcoin holdings around the same time but still holds 11,509 BTC, valued at $1.42 billion. Neither company has added new bitcoin since those reductions, according to Arkham’s data.
Bitcoin’s latest rally has propelled it to become the world’s fifth largest asset by market capitalization, overtaking Google. Analysts credit the surge to optimism around a possible U.S. interest rate cut in September, following cooler inflation data. With growing institutional interest, crypto markets appear more bullish than ever.
