SpaceX, the space exploration company owned by Elon Musk, has once again made big moves in the crypto world. On , October 25, SpaceX transferred $134 million worth of Bitcoin to new wallets, according to data from on-chain analytics firm Arkham.
This marks the second major Bitcoin transfer this week, and it’s getting a lot of attention across the crypto community.
Breaking Down the Transfer
Arkham’s data shows that SpaceX moved:
- 300 BTC, worth about $33 million, and
- 915 BTC, worth roughly $101 million,
to several new, unmarked wallets.
These transactions come just days after SpaceX broke three months of inactivity by transferring 2,395 BTC—valued at around $268 million—to two separate addresses earlier in the week.
In total, that’s more than $400 million in Bitcoin moved in just a few days.
Why Is SpaceX Moving Its Bitcoin?
No one knows for sure, but analysts following the on-chain data believe these transfers are likely wallet reorganizations rather than sell-offs.
Some of the Bitcoin appears to have been sent to Coinbase Prime, which could mean SpaceX is moving funds into custody for safekeeping or restructuring how it manages its crypto reserves.
It’s also possible the company is upgrading security or consolidating funds across multiple wallets — both common practices among large institutional holders of crypto.
Here’s What SpaceX Still Holds
After these movements, SpaceX is estimated to still hold about 6,970 BTC, which is roughly $770 million at current prices.
That’s a massive amount, but it’s not the only Musk company with Bitcoin on the books. Tesla also owns 11,509 BTC, worth about $1.24 billion. While Tesla sold most of its Bitcoin back in 2022, it continues to hold a significant chunk today.
The Bigger Picture
When it comes to corporate Bitcoin holdings, Tesla ranks 11th among all public companies. For comparison:
- MicroStrategy leads the list with a massive 640,418 BTC,
- Marathon Digital (MARA) holds about 53,250 BTC,
- XXI has 43,514 BTC, and
- Metaplanet sits on 30,823 BTC.
So even though SpaceX’s wallet movements have sparked plenty of speculation, they likely represent internal management — not panic selling.
Still, any time Elon Musk’s name and Bitcoin appear in the same headline, the market pays close attention.
Bottom Line
SpaceX’s $134 million Bitcoin transfer shows one thing clearly — Musk’s companies remain major players in the crypto space.
Whether these moves are about reorganization, security, or something else entirely, they highlight how much traditional companies are now operating with serious crypto assets on their balance sheets.
