SpaceX has completed its Bitcoin transfers for the 5th time.

Elon Musk's space company SpaceX announced that it transferred 281 Bitcoin (approximately 31.3 million dollars) on the night of October 29, bringing its total Bitcoin holdings to 4,337 Bitcoin (approximately 471.7 million dollars). The crypto analysis platform Lookonchain revealed that this transaction was conducted via Coinbase Prime, based on Arkham data. Experts suggest that these transfers were likely made as part of a cold wallet consolidation.

SpaceX's Bitcoin activities this month started with two significant transfers on October 21. On that day, a total of 2,495 Bitcoin (approximately 268.5 million dollars) was moved. Subsequently, in two separate transactions on October 24, an additional 1,561 Bitcoin (approximately 171.9 million dollars) was sent. Some of these transfers involve moving from older addresses starting with "1" to newer "bc1q" format SegWit addresses.

The latest transactions are viewed as further consolidation efforts among these modern addresses. Arkham Intelligence identified that as of March 2024, SpaceX held 8,285 Bitcoin. However, due to recent transfers, the company's current Bitcoin holdings are estimated to be around 7,258 Bitcoin (approximately 799 million dollars). Additionally, it is noted that the current amount may vary since some transactions are still unlabelled.

Meanwhile, Musk's other company Tesla, despite making significant Bitcoin sales in 2022, still holds 11,509 Bitcoin (approximately 1.3 billion dollars). The massive Bitcoin transfers conducted by SpaceX are attracting the attention of investors, and developments in the cryptocurrency market are increasingly shaped by the movements of such large players.