After Elon Musk’s metaphorical divorce from the Trump administration and his rejection of DOGE (both the meme and the government department), the SpaceX founder’s name has not been a positive force for digital assets.
Recently, SpaceX moved about $152 million worth of Bitcoin after three years of inactivity, a move that has created fears among the community that the aerospace giant may be thinking about selling the asset.
A deep dive into this news piece, however, shows that those fears may be unfounded, as there has been no dumping yet and BTC hasn’t changed hands.
But still, why has it happened? And will it impact Bitcoin’s status as the best crypto to buy now?
SpaceX’s Bitcoin Move Makes the Community Nervous
The large-scale movement happened in the early hours of July 22, and it started with a small transaction of just 0.000248 BTC to Coinbase Prime.
For the last three years until now, it is known that SpaceX has only received Bitcoin from the exchange, with single deposits ranging anywhere from 1.1K to 1.2K BTC.
That is the reason why many are getting nervous, believing that something else may be afoot. Elon Musk’s aerospace company has holdings of over 6.7K BTC, according to Arkham research, and the latest wallet transfer hasn’t reduced that yet.
So, it may just be a strategic reshuffling rather than actually stepping back from the cryptocurrency market.
Musk, who was once considered a man on a mission to dismantle Bitcoin bit by bit, has now become one of the major BTC promoters. There are even rumors that his latest initiative, a payment system on X, could adopt Bitcoin as a major asset.
However, the recent move has given people a reason to talk, with many wondering what could happen if Elon Musk just decides one day to sell off his BTC holdings.
What Happens to the Bitcoin Price if Elon Musk Sells off His BTC Holdings?
First things first, if the former Dogefather does end up taking the old and antagonistic stand and sells off his shares, the entire market narrative would be disrupted.
Like major names, Elon Musk too believes in Bitcoin, and his move would signal the market that his stand has changed, leading to catastrophic consequences for the Bitcoin price.
Those who are into BTC just because of their hero worship for Elon would step back. That being said, many of them could just be retail investors, which means their holdings could be low, which wouldn’t have much impact on the BTC price. But if more sellers step back, the market would be in trouble.
Companies like MicroStrategy may emerge to step into the Bitcoin buying spree again as the BTC price goes low. Even Robert Kiyosaki, a financial expert and author who has specifically stated that he won’t buy any more Bitcoin as it has reached a high point already, would see this as an opportunity to hoard more of this apex crypto.
These measures could make the market more volatile, leading the Bitcoin price to accumulate back in the $100K zone. The tug of war between bears and bulls will be reignited again, and if handled improperly, it could push the BTC price down further.
That being said, considering US regulations have become more inclined towards making crypto more mainstream, they could also come to the rescue, making the apex crypto insulated enough to prevent the market from being damaged by Elon Musk’s potential selling.
Investors should keep in mind that this is a hypothetical scenario. However, since Elon Musk has shown he can make surprising moves at inopportune times, traders should keep their eyes on the charts and ears to the ground, because institutional players have a way of changing stances quite often.
Best Crypto to Buy Now – Top 4 Picks
Even though there has been no selling of any assets at the hands of Elon Musk, conversations may be starting to open up and “what if” scenarios are being thought of. What if institutional or large whales start to back off, how will the crypto market react then? In such cases, the best crypto to buy now will be the one with a stronger community of bulls.
Bitcoin Hyper
If Bitcoin Hyper’s whitepaper is to be believed, it has what it takes to replace Bitcoin. Aiming to inject more utility into the meme coin economy, Bitcoin Hyper changes the standard operating paradigm, providing users with a more robust, more technologically nuanced version of the Bitcoin network.
Thanks to its integration with the Lightning Network, Solana Virtual Machine, and a canonical bridge, Bitcoin Hyper has the power to provide the traditional Bitcoin network with a more robust L2 scaling solution. This approach could help Bitcoin evolve from its speculative chains to provide users more value so that, in the long term, it could remain insulated from institutional movements.
In addition to these perks, Bitcoin Hyper is presented as a meme coin. Highlighted by a Pepe in a superhero costume (an off-colored Flash), the meme communicates the speed and accessibility that the project is trying to present. Analysts such as Alessandro De Crypto have been hyping this token, too, thanks to what it represents.
The analysts say that the project could provide real utility because it isn’t just showing off what it wants to do as a single statement, but its plans involve an entire system mentioned in the whitepaper. In other words, it seems like the developers know what they are doing, which has led people to become more confident in this cryptocurrency project.
Bitcoin
The second pick for this “best crypto to buy now” list is an obvious one. Bitcoin has proven itself thanks to the massive institutional interest it has garnered.
The apex crypto is currently trading below the $117K level. While it is below its previous highs, the chance still remains as investors are hoping that the next level the BTC price will reach is around $125K.
Institutional momentum has further grown for Bitcoin amidst the recent rise. And since the GENIUS Act and other bills have gone through approvals, and there are also rumors that everyday Bitcoin purchases could become tax-exempt, more surges could be coming for the Bitcoin price.
Furthermore, JPMorgan, a bank that was once a Bitcoin skeptic, has now decided to provide loans backed by clients’ cryptocurrency holdings. Multiple banks will likely follow the same approach, leading to growth for the BTC ecosystem.
Token6900
Elon Musk’s past influence on the crypto market still lingers, but now more as a meme than a mover. While his tweets once pushed coins like Dogecoin to all-time highs, today they mostly fuel jokes about how chaotic and unpredictable the space has become. This new environment has given rise to a wave of ironic, absurdist meme coins. Token6900 fits that mold perfectly.
Token6900 leans into this irony with a full embrace of nonsense. Its aesthetics resemble early-internet Windows 95 chaos, and its themes play off internet humor, irreverence, and pure randomness. The project carries clear parallels with SPX6900, a meme coin that also used Elon Musk’s antics as a launchpad. Like that project, Token6900 taps into the spirit of degeneracy that defines today’s meme coin culture.
Its social media posts are brain rot incarnate: AI-generated, unhinged, and impossible to ignore. And while it has no use case, it does not pretend otherwise. It might not be the best crypto to buy now, but it could potentially be one for degens chasing wild, high-risk momentum.
Token6900 isn’t for everyone, but that’s the point. It’s a high-risk, high-reward asset designed for those who thrive in meme chaos. The project has already raised close to $1 million in presale, suggesting it’s getting serious attention from the right corners of the internet.
Experts like HotCuppaCrypto have already pointed out its similarities with SPX6900, even suggesting it could go 500x under the right conditions. That alone makes Token6900 a degen pick worth watching.
Snorter
Elon Musk’s exit from the Department of Government Efficiency and his public distancing from Dogecoin have created yet another meme-worthy moment in crypto history. While Dogecoin’s relevance may be fading, the meme coin movement itself is far from over. In fact, with Solana’s lightning-fast network and surging popularity, a new generation of meme coins is poised to take center stage, and Snorter is here to help them seize that opportunity.
Snorter is a Telegram-based trading bot designed specifically for Solana meme coins. As a platform, it allows users to identify, track, and invest in high-potential meme tokens before they explode. Its core features include automated sniping, fast swaps, and an intuitive interface tailored for traders who want speed and efficiency.
Beyond its trading tools, Snorter prioritizes user safety. Built-in protections like honeypot detection, rug pull alerts, and MEV protection give traders a shield against some of the most common scams in the space. This makes it not just fast, but reliable.
Snorter’s social trading features set it apart. Users can copy trades from top wallets, follow expert strategies, and interact with the growing meme coin community, all through the Telegram app.
What really gives Snorter its unique brand is its aardvark mascot, a quirky, underused animal in crypto that stands out in a sea of dogs, frogs, and cats. The aardvark’s snout, used in branding, symbolizes the bot’s ability to “sniff out” the best investments.
By combining strong functionality with powerful meme appeal, Snorter could manage to bridge the gap between utility and entertainment. It’s not just another meme coin, it’s a platform designed to help the next generation of them thrive.
Conclusion
SpaceX’s recent BTC movement has made some people nervous. However, considering nothing has been sold (yet), there is nothing to be afraid of. But more surprising things have happened in the past regarding crypto, which means investors should brace for any fallout and load up on the best crypto to buy now as soon as possible.
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