Arkham’s portfolio page shows that the coins left a wallet dormant since mid‑2022. On‑chain data confirm there was no attempt to fragment the UTXO set or route funds through intermediaries, suggesting an internal realignment rather than a liquidation.
Arkham has repeatedly framed Elon Musk’s corporate balance sheets as a single macro bet on digital gold. In a 27 June tweet the analytics firm reminded followers that “Tesla and SpaceX hold over $2 BILLION of BTC combined. They purchased this at an average price of ~$32K.” With bitcoin hovering around $117,000 on Tuesday, that blended cost basis translates into unrealised gains of almost 270 percent.
For now, the move appears operational rather than directional. The coins are on the move, but not on the market. Unless the recipient address begins to peel outputs toward exchange clusters, the episode is likely to remain an accounting footnote—albeit one worth nine digits in fiat terms and a reminder that even rockets need cold wallets.
At press time, BTC traded at $119,394.
