Elon Musk’s SpaceX (NASDAQ: $SPCX) has moved some Bitcoin (CRYPTO: $BTC) out of its digital wallet, the first such movement in six months.

However, analysts have been quick to say that SpaceX is unlikely to sell the Bitcoin it has moved given that it is a very small amount. 

SpaceX has transferred less than $300 U.S. worth of its $1.16 billion U.S. Bitcoin holdings. 

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Some analysts have speculated online that the small amount of Bitcoin that SpaceX moved could be used to cover network fees before a larger BTC transaction takes place.

SpaceX went public on June 12 in the largest initial public offering (IPO) on record, and its filing put the company’s…