SpaceX, the aerospace manufacturer, has moved another $133.68 million worth of Bitcoin, continuing a series of large-scale internal transfers. According to data from the blockchain analytics firm Arkham Intelligence, the company transferred a total of 1,215 BTC on Friday.

The transaction was split into two parts, moving 300 BTC and 915 BTC into two separate new wallets. This follows a similar transfer just days earlier, when SpaceX moved approximately $268 million in Bitcoin. These movements don’t signal an intent to sell but are widely seen as a security measure, migrating the company’s crypto holdings from older wallets to more secure, updated ones.

Corporate Bitcoin Strategies

Following these recent transfers, SpaceX currently holds 6,970 BTC, valued at approximately $772.15 million. The company, along with Tesla, first began adding Bitcoin to its balance sheet during the 2020-2021 bull market, a period when CEO Elon Musk actively promoted cryptocurrencies like Dogecoin and Bitcoin.

While SpaceX has maintained its position without any major sales since 2022, its sister company Tesla has taken a different approach. After an initial purchase of $1.5 billion in Bitcoin, Tesla briefly accepted the cryptocurrency as payment before reversing its decision due to environmental concerns over mining. In 2022, the electric vehicle maker sold 75% of its holdings. Data from Arkham Intelligence shows Tesla still holds 11,509 BTC.

Current Market Conditions

The broader cryptocurrency market continues to show signs of caution. Bitcoin is currently trading at around $111,017, commanding a total market capitalization of $2.2 trillion. Its market dominance stands firm at 57.7%.

Meanwhile, Ether is trading near $3,940, struggling to break the significant $4,000 resistance level. The overall market sentiment, as measured by the Crypto Fear and Greed Index, remains in the “fear” category as investors navigate uncertainty following a recent market downturn.