SpaceX moves $257M in Bitcoin, reignites questions over its crypto play

The SpaceX-labelled wallets made their second large-scale Bitcoin transfer in three months, raising speculation of a sale as the company faces growing competition.

Elon Musk’s aerospace company SpaceX moved $257 million worth of Bitcoin, its second large-scale transfer in three months, prompting speculation about a potential sale as the company faces mounting financial and political pressure.

SpaceX transferred the Bitcoin (BTC) on Tuesday, marking the company’s first wallet movements since July.

The SpaceX-labelled wallet “1MDyM” transferred $130 million worth of Bitcoin to address “bc1qj,” while another SpaceX wallet “1AXeF” sent $127 million in Bitcoin to address “bc1qq,” according to data from blockchain intelligence platform Nansen. 

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