Bitcoin is once again making waves, and so is SpaceX. Elon Musk’s aerospace company has seen the value of its bitcoin holdings climb back over the $1 billion mark, thanks to the cryptocurrency hitting a new all-time high this week.
According to data from blockchain analytics platform Arkham Intelligence, SpaceX currently holds 8,285 BTC, now worth about $1.02 billion, after bitcoin surged past $124,000. This marks a significant rebound for the company, which had previously trimmed its crypto exposure during the turbulent 2022 market crash.
SpaceX and Tesla’s Bitcoin Journey
Back in April 2021, SpaceX’s bitcoin wallet held nearly 28,000 BTC, valued at around $1.8 billion at the time. However, the company scaled back its position following the collapse of the Terra-Luna ecosystem and the FTX exchange.
Tesla, which had also made headlines for its large BTC purchase, reduced its holdings during the same market downturn. Today, Tesla holds 11,509 BTC, which is now valued at approximately $1.42 billion, according to Arkham. Neither company has made any new bitcoin purchases since those reductions.
Bitcoin Becomes 5th Largest Asset by Market Cap
Bitcoin’s latest rally isn’t just boosting corporate portfolios—it’s reshaping the global asset landscape. With its recent price surge, BTC has officially overtaken Google to become the fifth-largest asset in the world by market capitalization.
Analysts believe the rise is fueled by growing expectations of a U.S. interest rate cut in September, following softer inflation data. There’s also increased optimism among investors, with institutional interest in crypto at an all-time high. This bullish momentum is adding fresh energy to the entire digital asset market.
As major players like SpaceX and Tesla continue to ride the bitcoin wave, all eyes are on how high the world’s leading cryptocurrency can go in the months ahead.
