SpaceX’s cost basis for these 18,712 BTC is making me green with envy. The institutions’ core positions were built long ago—now that the price has dropped back to 66,000, it’s just a psychological massage show for people who haven’t gotten on board yet.

CoinWorld News reports that Blackstone Bitcoin is once again in the spotlight, as institutional funds are driving the market. Companies are quietly incorporating Bitcoin into their balance sheets, viewing it as a long-term treasury asset rather than a speculative investment. Recent data shows that SpaceX holds 18,712 Bitcoins, with an average cost of about $35,000, for a total cost approaching $661 million and a current valuation of approximately $1.3 billion. Meanwhile, Bitcoin’s price briefly fell below $66,000 amid macroeconomic worries and selling pressure from large holders, reminding people that institutional confidence and short-term price volatility may coexist. The current trading price of Bitcoin is $67,200, down 3.2% over the past 24 hours. $65,000 is Bitcoin’s final strong support zone; if it breaks, it could accelerate the drop to new lows. Blackstone’s Bitcoin ETF and its record-breaking capital inflows further reinforce this theme.