SpaceX, Elon Musk's aerospace company, has made a significant move in the cryptocurrency world by transferring 1,308 BTC, valued at approximately $153 million, after three years of dormancy. This unexpected transaction, observed on July 22, 2025, signals renewed activity from the company in the crypto space and has drawn considerable attention from the market.
SpaceX's Bitcoin Movement
On July 22, 2025, a previously dormant Bitcoin wallet belonging to SpaceX transferred 1,308.45 BTC, worth about $152.85 million, to a new address. This marks the first major on-chain transaction from SpaceX in over three years. Prior to the large transfer, a small test transaction of 0.000248 BTC (less than $30) was sent to Coinbase Prime, likely to confirm the transfer path.
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The transaction incurred a remarkably low fee of approximately $29.
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The receiving address has not yet spent any of the transferred Bitcoin, suggesting a potential cold storage reshuffle or internal security upgrade rather than a sale.
Current Bitcoin Holdings and Historical Context
Despite this recent transfer, SpaceX continues to hold a substantial amount of Bitcoin. Arkham Intelligence reports that the company's Bitcoin reserves currently stand at around 6,977 BTC, held with Coinbase Prime, valued at approximately $818.3 million. This figure is nearly half of its peak value during the 2021 bull run, when its holdings were worth over $1.6 billion.
SpaceX's Bitcoin investment was first publicly confirmed by Elon Musk in 2021. Internal records later revealed that the company had written down $373 million in losses across 2021 and 2022. This recent wallet movement, however, confirms that SpaceX still maintains a significant Bitcoin stack.
Broader Market Implications
This move by SpaceX comes at a time when Bitcoin is trading near record highs, just 4.55% below its all-time high of $123,091 set on July 14. The broader Bitcoin network is also showing signs of evolving activity:
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Price Cooling: Bitcoin's price has slightly cooled in the past week, down about 3%, trading just under $119,000.
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UTXO Count Decline: On-chain analyst Avocado noted a continued drop in Bitcoin's Unspent Transaction Output (UTXO) count since December 2024. This indicates a trend of more assets moving into secure, institutional-grade custody and long-term cold storage, reducing near-term liquidity on exchanges.
Elon Musk's influence on the crypto market remains significant. His companies, Tesla and SpaceX, collectively control an estimated 18,486 BTC, worth approximately $2.17 billion. Musk has also recently unveiled a new political platform, "The American Party," which he states will support Bitcoin as part of its economic vision, further solidifying his commitment to decentralized finance.
Sources
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Elon Musk's SpaceX moves 1,308 BTC worth $153 million after 3 years of inactivity, Cryptopolitan.
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Elon Musk’s SpaceX Moves 1,300 Bitcoin After Three Years of Dormancy, The Crypto Basic.
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SpaceX di Elon Musk sposta 1.308 BTC per un valore di $ 153 milioni dopo 3 anni di inattività |
Crittopolitano, Cryptopolitan. -
SpaceX moved 1,308 BTC after three years inactivity, Mitrade.
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