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Elon Musk’s SpaceX quietly moved $153 million in Bitcoin, just days before Tesla Q2 earnings report, creating massive buzz across both equity and crypto markets.
In a stunning move that caught crypto watchers off guard, an old Bitcoin wallet tied to SpaceX sprang to life after more than three years of silence, transferring 1,308 BTC to an unknown destination.
The timing couldn’t be more conspicuous, with Tesla Q2 earnings report set for release after markets close on Wednesday, July 23.
On-chain analytics platform Lookonchain was first to report that SpaceX moved the funds, stating, “A dormant wallet linked to SpaceX just transferred over $153 million in BTC.
Last active in June 2022, the sudden shift is raising major red flags—or signals—depending on how you see Musk’s crypto game.”
According to Arkham Intelligence, SpaceX still holds 6,977 BTC valued at around $822 million. Tesla, meanwhile, maintains a larger stash of 11,509 BTC, worth approximately $1.36 billion. Both firms reportedly store their Bitcoin reserves under Coinbase Prime custody.
The reactivation of a dormant crypto wallet and its alignment with Tesla Q2 earnings report has sent shockwaves through investor circles.
Investors are nervously eyeing Tesla Q2 earnings report for clues about its evolving revenue mix and potential changes to its Bitcoin holdings.
The company’s financial performance is expected to reflect a strategic pivot toward more diversified revenue streams.
“Auto revenue is projected to drop 19.6% year-over-year, while energy revenue could surge by 67% and services by over 15%,” tech investor @Samsolid noted in a widely shared X post. “If energy keeps scaling, Tesla may accelerate overall revenue growth—despite EV sales softness.”
The proximity of the Bitcoin transfer to Tesla Q2 earnings report has reignited speculation about Elon Musk’s long-term crypto positioning. Could the Tesla CEO be reactivating his digital asset strategy?
“A few Tesla earnings wildcards… Will Tesla change Bitcoin accounting for a third straight quarter? Will it absorb a ZEV credit revenue hit from 2022 emission fines being scrapped?
What about Tesla Energy margins under new tariffs?” asked Ed Carson, senior markets editor at Investor’s Business Daily.
While there’s no direct confirmation that Tesla adjusted its BTC holdings in Q2, the market remains glued to the upcoming financial release.
Any disclosure of changes to Tesla’s crypto portfolio—especially amid a potentially weaker auto revenue quarter—could ripple through Bitcoin markets.
What’s clear is that both Tesla Q2 earnings report and SpaceX’s surprise crypto move are part of a broader market narrative surrounding Musk’s financial strategies.
Whether it’s reshuffling digital assets, realigning revenue priorities, or maneuvering around regulatory shifts, Elon Musk remains a dominant force in shaping market sentiment.
“There’s always noise around earnings, but when it comes to Tesla and Musk, the signals are louder and the stakes are higher,” said Gina Sanchez, Chief Market Strategist at Lido Advisors, during a CNBC segment.
“Any movement in crypto by Musk-affiliated entities is closely scrutinized for what it could foreshadow.”
With Tesla Q2 earnings report just around the corner, and Bitcoin markets stirred by SpaceX’s unexpected activity, traders are preparing for a volatile stretch.
Whether it’s bullish breakout or cautious consolidation, one thing is certain: Musk’s financial chessboard is in motion.
The alignment of these two events has only intensified the speculation. Is Musk merely diversifying Tesla’s future revenue via energy and services—or is he prepping for a larger financial reset that includes Bitcoin?
For now, all eyes remain on Wednesday’s report. And if history is any guide, Tesla Q2 earnings report won’t just impact Tesla stock—it could send tremors across the entire crypto ecosystem.
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