Latest news with #Arkham
Time of India
2 days ago
- Business
- Time of India
Elon Musk's SpaceX just moved Bitcoin after 3 years, should crypto investors panic?
SpaceX Moves $153 Million in Bitcoin to New Address What Could Be Behind SpaceX's Sudden Bitcoin Transfer? Live Events SpaceX Faces Political Pressure While Seeking $1 Billion in Funding SpaceX's Bitcoin Investment Traces Back to 2021 Tesla's Bitcoin Investment and Recent Sell-Off Elon Musk Says He Still Holds Bitcoin, Ethereum, and Dogecoin FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel After more than three years of sitting still, a Bitcoin wallet linked tosuddenly became active last week, which has led the crypto world to speculate on the reasons behind the move, as per a Tuesday, the cryptocurrency intelligence platform Arkham reported that a wallet associated with the space exploration company had moved about 1,300 BTC, worth over $153 million, as per the Benzinga report. It's the first recorded movement from this wallet since June 2022, according to the posted on X, the social platform formerly known as Twitter, 'SPACEX JUST MOVED BITCOIN FOR THE FIRST TIME IN 3 YEARS,' and added that, 'They sent 1.3K BTC ($153M) to a fresh address this morning,' as quoted by READ: Is Donald Trump cheating at golf again? New viral video at Turnberry sparks heated debate on social media While SpaceX hasn't commented on the move, it has sparked a flurry of speculation about the purpose of the transfer, as per the report. These kinds of moves are usually indicative of a wallet custody adjustment or an impending sell-off, as reported by per Arkham's data, the SpaceX-linked wallet still holds about 7,000 BTC, which is worth more than $830 million, according to the report. While, as of Sunday, the transferred 1,300 BTC had not moved from the recipient address, as reported by READ: Jobs, inflation, Fed move: This week could decide the fate of the US economy for years to come SpaceX's move comes at a time of growing political and financial pressure for SpaceX. Reports suggest that the Trump administration is taking a closer look at the company's government contracts, following a recent public clash between US president Donald Trump and Musk, according to Newsweek. Meanwhile, SpaceX is trying to raise more than $1 billion in funding, as it works toward a $400 billion valuation, as reported by involvement with Bitcoin was first revealed in July 2021, when Musk disclosed that the company had added Bitcoin to its balance sheet, according to the report. While no exact number was shared, blockchain analysts estimated that SpaceX initially bought nearly 26,000 BTC that year for around $860 million, averaging $33,000 per coin, as reported by Newsweek. Since then, the company is believed to have trimmed its holdings to just over 8,000 BTC, as per the isn't the first time a Musk-led company has made headlines for its Bitcoin investment. Tesla had purchased over 43,000 BTC in early 2021, worth $1.5 billion at the time, as per Newsweek. However, since then, the EV maker has sold off a large portion of those holdings and now holds just over 11,500 BTC, according to the both companies reducing their Bitcoin exposure, Musk has said he personally still owns Bitcoin, Ethereum, and Dogecoin, and has no plans to sell, as reported by Newsweek. He made that statement back in 2022, during a conversation about rising inflation, according to the recently, Musk liked a post suggesting he may be accumulating Bitcoin again, and he's voiced support for the cryptocurrency through his proposed political party, the 'America Party,' as per Newsweek. He has called fiat currency 'hopeless' and criticized a recent government spending bill that could add over $3 trillion to the national deficit over the next decade, according to is not known for sure, but it could be for security reasons or a possible sell-off.1,300 BTC, which is worth over $153 million.
Yahoo
2 days ago
- Business
- Yahoo
Elon Musk's SpaceX Moves Bitcoin For The First Time In 3 Years: Is A Sell-Off Incoming?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. SpaceX has reportedly moved parts of its Bitcoin holdings after a long period of dormancy. Cryptocurrency intelligence platform Arkham said Tuesday on X that a wallet linked to the Elon Musk-led space exploration and technology company had moved about 1,300 BTC worth over $153 million, marking the first time the wallet has been touched since June 2022. 'SPACEX JUST MOVED BITCOIN FOR THE FIRST TIME IN 3 YEARS,' Arkham wrote. 'They sent 1.3K BTC ($153M) to a fresh address this morning.' Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— — no wallets, just price speculation and free paper trading to practice different strategies. The report has raised questions about the purpose of the transfer, with moves like this typically indicative of a wallet custody adjustment or an impending sell-off. SpaceX did not immediately respond to a Benzinga request for comment. According to Arkham data, the SpaceX-linked wallet still holds nearly 7,000 BTC worth over $830 million. Meanwhile, at last look, the transferred 1,300 BTC has not moved from the recipient address. The recent asset movement comes as SpaceX's lucrative government contracts have reportedly come under scrutiny from the Trump administration following Musk's row with President Donald Trump. Meanwhile, amid this uncertainty, the firm is seeking to raise over $1 billion to secure a $400 billion valuation. Trending: Grow your IRA or 401(k) with Crypto – . SpaceX's Bitcoin Exploration Musk first disclosed that SpaceX had added Bitcoin to its balance sheet in July 2021, without revealing how much the firm had invested in the asset. But reporting from blockchain sleuths suggests that the firm purchased nearly 26,000 BTC for about $860 million in 2021 at an average price of $33,000 per coin. Sometime down the line, however, the reporting suggests that the firm reduced its holdings to just over 8,000 BTC. This aligns with Wall Street Journal findings in August 2023, indicating that the firm had sold the asset. Similarly, Tesla purchased over 43,000 BTC worth $1.5 billion in February 2021, according to Securities and Exchange Commission filings. The firm cited a need 'for more flexibility to diversify and maximize returns' on its cash as the reason for its decision. Like SpaceX, Tesla has also significantly reduced its Bitcoin holdings to just over 11,500 BTC, worth $1.4 billion at last his firms have significantly reduced their Bitcoin holdings in recent years, Musk in 2022 said that he intended not to sell his holdings. He said this while discussing inflation concerns. 'It is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high,' he said on X at the time. 'I still own & won't sell my Bitcoin, Ethereum or Doge fwiw.' Recently, Musk has stoked speculation that he has been quietly accumulating the asset by liking a post suggesting so. He has also said his proposed political party, the 'America party,' would 'embrace Bitcoin,' slamming fiat as 'hopeless' in the wake of his disillusionment with the government's decision to pass the so-called "One Big Beautiful Bill." The act's provisions could add over $3 trillion to the national deficit in the next decade, according to estimates by the Congressional Budget Office in May. Read Next: A must-have for all crypto enthusiasts: . Image: Shutterstock This article Elon Musk's SpaceX Moves Bitcoin For The First Time In 3 Years: Is A Sell-Off Incoming? originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
$4,000 Is Ethereum's Last Hurdle Before Price Discovery, Says Galaxy Digital's Mike Novogratz
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Michael Novogratz, CEO of Galaxy Digital on Thursday said Ethereum (CRYPTO: ETH) has a chance to outperform Bitcoin (CRYPTO: BTC) over the next three to six months as institutional capital begins to rotate deeper into Ethereum. What Happened: The remarks came during an interview with CNBC, where Novogratz discussed macroeconomic tailwinds and capital inflows driving momentum in the crypto market. Galaxy's bullish stance on Ethereum is also evident in its onchain activity. Trending: Be part of the breakthrough that could replace plastic as we know it— According to blockchain intelligence platform Arkham, Galaxy Digital currently holds over 52,000 ETH valued at approximately $193.95 million, making it the firm's second-largest crypto position after Bitcoin. "If ETH takes out 4,000, it goes into price discovery," Novogratz said. "The market was really short ETH, and now we have major treasury companies raising capital and buying Ether. There's not a lot of supply." Why It Matters: Bitcoin remains the largest holding in Galaxy's crypto portfolio at over 13,500 BTC, worth $1.57 billion, followed by 328,959 Solana (CRYPTO: SOL) worth roughly $59.3 million. Other holdings include stablecoins like USDC (CRYPTO: USDC) and USDT (CRYPTO: USDT), and real-world asset tokens like Sonic (CRYPTO: S). Galaxy's total visible crypto portfolio value sits just below $1.9 billion, Arkham data shows. That figure has surged alongside Bitcoin's rise above $115,000 and Ethereum's rally toward the $4,000 noted that the broader macro environment, defined by political pressure on the Fed to lower rates and a global reflation push from countries like China, has created a tailwind for 'inflation trades' like gold, silver, and crypto assets. "We're in price discovery in many of these markets," Novogratz said. "Bitcoin could easily reach $130K to $150K, but Ether's supply dynamics and growing adoption make it compelling." Galaxy's ETH holdings support this outlook. The fund has added significantly to its Ethereum position during the past two quarters, according to Arkham's historical balance chart, with an observable increase in mid-2024. The broader Ethereum ecosystem has seen renewed interest with the rise of ETH-based treasuries, staking products, and upcoming scalability upgrades. With ETF applications pending and layer-2 activity rising, institutional ETH accumulation is expected to continue. Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image: Shutterstock This article $4,000 Is Ethereum's Last Hurdle Before Price Discovery, Says Galaxy Digital's Mike Novogratz originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-07-2025
- Business
- Yahoo
El Salvador Bitcoin Buying Halted Since February, IMF Compliance Docs Show
El Salvador hasn't purchased bitcoin (BTC-USD) since February 2025, despite repeated claims from President Nayib Bukele's administration about daily BTC buys, according to a July 15 compliance report by the International Monetary Fund. In a letter signed by central bank president Douglas Pablo Rodriguez Fuentes and finance minister Jerson Rogelio Posada Molina, the government stated its bitcoin stockpile has remained unchanged since a $1.4 billion IMF financing deal commenced. The IMF confirmed it was provided wallet addresses for audit. The IMF report, reviewed by The Block, said recent increases in the Strategic Bitcoin Reserve Fund are the result of consolidating bitcoin across various government-controlled walletsnot fresh acquisitions. This directly contradicts ongoing statements from Bukele's Bitcoin Office, which continues to announce daily 1 BTC purchases, claiming a national reserve of 6,242 BTC (worth roughly $737 million). Blockchain analytics firm Arkham has traced bitcoin transfers linked to government wallets, though these appear to come from exchanges like Binance or Bitfinex. Bukele has previously insisted that BTC buys would continue regardless of IMF conditions. It won't stop now, and it won't stop in the future, he posted on X. The IMF, however, told Forbes in March that wallet consolidations did not violate loan terms, suggesting room for interpretation around BTC accounting. The IMF's July findings suggest El Salvador's bitcoin strategy is less aggressive than the administration's rhetoric. Investors watching bitcoin adoption trends by nation-states may view this as a recalibration tied to global lender obligations. This article first appeared on GuruFocus. Sign in to access your portfolio
India.com
16-07-2025
- Business
- India.com
You won't believe who just became the 11th richest person in the world? Has more money than Mukesh Ambani, Adani, name is...
Mukesh Ambani eyes major deal! Even Gautam Adani stepped back from race, Reliance to become biggest…, deal is about... Years before the advent of digital currencies, Bitcoin's inventor's true identity has remained one of the most enduring mysteries on the internet. The creator of the world's first decentralized digital financial system is known only by the pseudonym Satoshi Nakamoto, and his identity has never been confirmed. The anonymous creator of Bitcoin now controls over 1.096 million bitcoins, which is approximately $129 billion, making him one of the 11 richest men in the world, without ever revealing who they actually are. Satoshi Nakamoto, the unidentified creator of Bitcoin, has now officially made their way into the top 11 richest people in the world after Bitcoin surpassed $120,000 on Sunday. A Cointelegraph report based on data from blockchain analytics company Arkham showed that when Bitcoin debuts over the $120,000 line, Nakamoto's holdings surpassed Michael Dell's, the CEO of Dell Technologies, whose total wealth is estimated at $125.1 billion. What is even stranger is that Nakamoto has never moved a single coin from his original stack even as Bitcoin ballooned in price. Although the Forbes Billionaires List has not added crypto wallets to it's official ranking, Nakamoto's rising wealth is attracting more and more international attention as the price of Bitcoin climbs.
