After a busy week of wallet activity, Elon Musk’s SpaceX has once again moved part of its Bitcoin holdings — this time, 281 BTC worth about $31.28 million.
This latest transaction happened on October 30, marking the company’s third major Bitcoin movement in just ten days.
What Happened
According to on-chain data from Arkham Intelligence, SpaceX transferred 281 BTC to a brand-new wallet that now holds only that amount. The move was routed through Coinbase Prime Custody, which is often used by institutions for secure storage and internal transfers.
Earlier this month, SpaceX made two other big moves:
- 2,395 BTC (worth about $268 million) was transferred on October 19.
- 1,215 BTC (worth about $134 million) followed on October 24.
That brings the total Bitcoin moved in October to over $432 million.
Is SpaceX Selling Its Bitcoin?
Despite the huge numbers, analysts say there’s no sign SpaceX is dumping its Bitcoin. The transactions appear to be internal transfers, possibly for security or custody reorganization, not sales.
All of the transfers have gone through Coinbase Prime Custody, and none of the receiving wallets have sent any Bitcoin to known exchange addresses — a clear hint that the funds are still in cold storage, not being liquidated.
This pattern matches earlier SpaceX Bitcoin activity, where large transfers later turned out to be routine adjustments for accounting or security purposes.
Why It Matters
The timing has still raised eyebrows in the crypto world. Bitcoin’s price recently dipped from above $115,000 to around $110,000, down roughly 2% on the day. Large movements like this often spark talk of potential sell pressure from big holders — especially when they come from high-profile names like Elon Musk’s companies.
However, based on available data, it seems this is just another custody shuffle rather than a market move.
How Much Bitcoin Does SpaceX Hold?
SpaceX is believed to hold between 6,900 and 7,000 BTC, which makes it one of the largest corporate Bitcoin holders in the world.
For comparison, Tesla, another Musk-led company, currently holds around 11,509 BTC, valued at about $1.27 billion at today’s prices.
Bottom Line
While these wallet movements are definitely eye-catching, there’s no clear evidence that SpaceX is selling any of its Bitcoin. Instead, all signs point to internal management or restructuring of how its crypto is stored.
Still, with over $432 million worth of Bitcoin moved in just ten days, traders and analysts will be keeping a close watch on SpaceX’s wallets for any further signs of what’s next.
