🤯 According to on-chain data, SpaceX transferred 11,509 Bitcoins, worth more than $770 million, to seven new wallets after remaining dormant for the past two years.

🤔This has created speculation as to what pushed this move? Among them is the possibility of internal shuffling to reduce the security threats of its Bitcoin holdings.

🤓This is not the first time Tesla moves their BTC. The company sold 75 percent of its BTC holdings in 2022 at a loss. As of this report, the company’s Bitcoin holdings had made a small profit.

🧐According to Pierre Rochard, the vice president of research at Riot Platforms Inc, SpaceX could be aiming to utilise its Bitcoin holdings as collateral for loans, as Musk is very fond of blockchain technology.