BTCETFApproval

#BTCETFApproval
American aerospace technology giant SpaceX has become one of the biggest beneficiaries of the ongoing Bitcoin (BTC) price boom. According to data platform Arkham Intelligence, the rocket manufacturer has seen a $700 million profit in its Bitcoin holdings.
With a spot Bitcoin ETF launched in January 2024 and the price of Bitcoin hitting multiple all-time highs, the SpaceX balance has skyrocketed. However, the firm’s BTC holdings are yet to reclaim their highest level of more than $1.6 billion.
At the moment, multiple institutional investors are entering the BTC market. BlackRock Inc. raked in $527 million in its Bitcoin ETF product on Nov. 16, underscoring the massive interest in the offering. With this institutional adoption trend, SpaceX may see more of an uptick if it continues to HODL.
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