Elon Musk's space technologies company SpaceX has once again surpassed the $1 billion threshold with the value of its Bitcoin (BTC) assets. SpaceX's Bitcoin Holdings Surpass $1 Billion, BTC Sets New Record According to Arkham Intelligence data, the company currently has 8,285 BTC in its portfolio, with a total value of approximately $1.02 billion. This isn't the first time SpaceX's Bitcoin portfolio has reached these levels. According to data trackable from early 2021, the company reached a valuation of $1.8 billion with approximately 28,000 BTC in April 2021. However, following the Terra-Luna collapse, the FTX bankruptcy, and the on-chain sell-off in the crypto market, SpaceX sold off approximately 70% of its BTC holdings in mid-2022 and has not made any new purchases since. Tesla also made a significant sale during this period. The company currently holds 11,509 BTC, worth around $1.42 billion. Bitcoin is trading at $121,500 today, up 3.17%, and has surpassed its all-time high of $124,470 during the day. BTC's market capitalization has reached $2.452 trillion, surpassing the market capitalization of Google. According to experts, this rise was driven by rising expectations for a US interest rate cut in September and lower-than-expected July inflation figures. *This is not investment advice. Continue Reading: Elon Musk's Bitcoin Holdings Break Record Value as Bitcoin Surpasses All-Time High! Here Are the Details
