SpaceX’s bitcoin portfolio has soared past the $1 billion mark, coinciding with a fresh all-time high for the world’s largest cryptocurrency.
Data from Arkham Intelligence shows Elon Musk’s aerospace company currently holds 8,285 BTC, valued at approximately $1.02 billion. This isn’t the first time SpaceX’s bitcoin stash has exceeded the billion-dollar threshold — back in April 2021, its holdings peaked at around $1.8 billion, when it owned roughly 28,000 BTC.
Arkham Intelligence
The company trimmed its bitcoin reserves by about 70% in mid-2022, a move analysts believe was linked to a turbulent period in the crypto market. That year saw the collapse of the Terra-Luna ecosystem in May, the implosion of FTX in November, and a chain reaction of market shocks. Since then, SpaceX has not added to its bitcoin holdings, according to Arkham’s tracking.
Tesla, another Musk-led company, followed a similar strategy, selling a significant portion of its bitcoin in the same period. Tesla now holds 11,509 BTC, worth about $1.42 billion.
Bitcoin’s latest rally has pushed it to record levels, with prices climbing more than 3% in the past 24 hours to $123,117 after briefly surpassing $124,300. The surge has propelled bitcoin into the position of the world’s fifth-largest asset by market capitalization, at $2.452 trillion — overtaking Google’s $2.448 trillion valuation.
The bullish momentum in crypto markets has been fueled in part by growing expectations of a U.S. interest rate cut in September, following softer-than-expected inflation data.
“Markets had anticipated July’s CPI to tick up slightly to 2.8% from June’s 2.7%,” noted Paul Howard, senior director at crypto market maker Wincent. “Instead, the figure held steady despite inflationary pressure from tariffs. This outcome is bullish for BTC and ETH, as it increases the likelihood of a potential U.S. rate adjustment.”
With investor sentiment high and macroeconomic factors aligning, bitcoin’s position as both a speculative asset and a potential hedge appears stronger than ever — and SpaceX’s billion-dollar holdings place it firmly among the cryptocurrency’s heavyweight backers.
