Key Highlights:
- SpaceX moves 1,300 BTC ($153M) after 3 years of inactivity, still holds $810M in Bitcoin.
- Bitcoin hits new all-time high above $122K, triggering whale movements.
- Trump signs GENIUS Act, banning Stablecoin yields, boosting Ethereum demand.
SpaceX’s $153M Bitcoin Move Sparks Market Buzz
Elon Musk’s aerospace giant, SpaceX, has made a rare Bitcoin transaction, transferring over 1,300 BTC (worth $153 million) to a new wallet as Bitcoin surged to an all-time high. According to blockchain intelligence firm Arkham, this marks the first major movement from SpaceX’s Bitcoin holdings in three years.
The company still retains a massive stash of 6,900 BTC, valued at approximately $810 million at current prices. While the exact reason behind the transfer remains unclear, experts speculate it could be part of an internal reorganization rather than a sell-off.
SpaceX and Tesla, both under Musk’s leadership, collectively hold around $2 billion in Bitcoin, purchased at an average price of $32,000 per BTC. With Bitcoin recently peaking above $122,800, their unrealized profits are nearing $1.5 billion, reinforcing Musk’s long-term bullish stance on crypto.
Trump’s GENIUS Act: A Turning Point for Crypto?
In a landmark move for the cryptocurrency industry, former President Donald Trump has signed the GENIUS Act into law, establishing a regulatory framework for Stablecoins. The bill, which passed the House 308-122, prohibits regulated Stablecoins from offering yields—a decision analysts say is driving investors toward Ethereum (ETH) for decentralized finance (DeFi) yield opportunities.
Luke Nolan, a senior researcher at CoinShares, noted, “This is a pivotal moment for Ethereum. While it’s too early to confirm a long-term trend, the regulatory shift is clearly favoring ETH.”
Stablecoins, which maintain a 1:1 peg to the U.S. dollar, have become essential for crypto trading. With major institutions like Bank of America reportedly developing their own Stablecoins, the GENIUS Act could accelerate mainstream adoption while reshaping market dynamics.
As Bitcoin continues its volatile rally and regulatory landscapes evolve, the crypto world braces for what could be a transformative phase.
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