.jpeg)
Elon Musk's aerospace company, SpaceX, has executed a significant transfer of Bitcoin, moving over $133 million worth of the cryptocurrency to new, unlabelled wallets. This transaction follows similar movements earlier in the week and underscores SpaceX's continued, albeit adjusted, involvement with digital assets. The company's total Bitcoin holdings remain substantial, positioning it among major corporate holders of the cryptocurrency.
Key Takeaways
-
SpaceX transferred approximately $133.7 million in Bitcoin on Friday.
-
The funds were moved in two parts: 300 BTC ($33 million) and 915 BTC ($100.7 million).
-
These new wallets are not currently identified as belonging to SpaceX.
-
The company's total holdings now stand at 8,285 BTC, valued at around $914 million.
Recent Bitcoin Activity
On Friday, SpaceX moved a total of 1,215 Bitcoin, valued at over $133 million, to separate digital wallets. This action comes just days after the company engaged in similar transfers of a comparable amount. According to blockchain analytics firm Arkham Intelligence, the recent transfers involved 300 BTC ($33 million) and 915 BTC ($100.7 million).
Notably, unlike previous transfers earlier in the week, these newly utilized wallets are not presently designated as belonging to the Hawthorne, California-based firm. This move adds a layer of intrigue to SpaceX's ongoing management of its Bitcoin reserves.
SpaceX's Bitcoin Treasury
Prior to these recent transactions, SpaceX held 8,285 Bitcoin, with an approximate value of $914 million, given Bitcoin's recent trading price above $110,000. This substantial holding places SpaceX fourth among privately held companies with significant Bitcoin treasuries, according to data from BitcoinTreasuries.net.
In 2022, addresses associated with SpaceX held as much as 25,000 BTC. However, this figure decreased to 8,285 BTC by June of that year. Following those significant adjustments, SpaceX exhibited no on-chain activity for an extended period until earlier this year, when it began consolidating some of its Bitcoin holdings. This marked its first on-chain activity in over three years.
The specific reasons behind these recent fund transfers and whether they signal an intention to sell Bitcoin remain unclear. A representative for SpaceX has not yet provided a comment regarding the matter.
Tesla's Bitcoin Holdings
SpaceX's sister company, Tesla, also maintains a notable presence in the Bitcoin market. The electric vehicle and robotics manufacturer currently holds 11,509 BTC, valued at over $1.27 billion. This positions Tesla just outside the top 10 publicly traded companies by Bitcoin treasury size.
Earlier this year, Tesla re-evaluated its Bitcoin holdings under new accounting rules, resulting in the booking of over $600 million in quarterly profits as Bitcoin's value increased. Tesla's last recorded on-chain activity was in October 2024, when it moved approximately $765 million in BTC to new wallets.
As of the report, Bitcoin was trading modestly down on the day, falling 0.3% to $110,541, approximately 12% below its all-time high of $126,080.
Sources
-
Elon Musk's SpaceX Moves $133 Million Worth of Bitcoin, Yahoo Finance.
-
Elon Musk's SpaceX Moves $133 Million Worth of Bitcoin, Decrypt.
-
News Explorer — SpaceX Moves $133 Million in Bitcoin to New Wallets, Holding 8,285 BTC in Total, Decrypt.
This article was created with support from AI-driven technology, drawing on multiple reputable sources. The final content has been thoroughly reviewed and edited by BlockzHub's editorial team to ensure accuracy, clarity, and coherence. Original reporting sources are credited whenever appropriate and as required. The opinions expressed in this article do not necessarily represent the official views or positions of BlockzHub. This article is intended for informational purposes only and should not be considered financial or professional advice. Investing involves risk, and you should consult a qualified financial advisor before making any investment decisions.