SpaceX executes bitcoin transaction after a prolonged hiatus-What's Musk's intention now?
SpaceX, the private aerospace manufacturer founded by Elon Musk, has recently moved approximately 1,308.45 bitcoin, valued at around $152.85 million, in a significant internal wallet transfer[1][2][4]. This marks the largest Bitcoin transaction from the company in over three years.
The transfer appears to be a wallet reshuffle or an internal reorganization, potentially aimed at enhancing security measures or rearranging cold storage arrangements[1][4][5]. The receiving address has not spent any coins following the transfer, suggesting that the move was not a sale or liquidation.
The bitcoin inflows to SpaceX were made between three and four years ago through Coinbase wallets, with each deposit ranging from about 1,100 to 1,279 BTC. The total value of SpaceX's Bitcoin holdings peaked over $1.6 billion during the 2021 Bitcoin bull run. However, since then, the total BTC holdings have decreased roughly by half in dollar terms but remain substantial[1][4][5].
As of July 2025, SpaceX currently holds approximately 6,977 BTC, all stored under Coinbase Prime custody[1][2][4]. Prior to the large transfer, a small transaction of 0.000248 bitcoin was sent from the SpaceX wallet to Coinbase Prime.
It's important to note that no information was provided about any changes in SpaceX's bitcoin investment strategy since the recent transfer. In contrast, Tesla, another company led by Musk, sold 75% of its Bitcoin in the second quarter of 2022 for $936 million[6].
Elon Musk, the CEO of both SpaceX and Tesla, had often shaken up the market with his tweets about Bitcoin and other cryptocurrencies, such as Dogecoin. However, no information was provided about the reason for SpaceX's bitcoin wallet reactivation or any plans to dump or liquidate Bitcoin holdings[6].
References: [1] CoinDesk (2023). SpaceX Moves $153 Million in Bitcoin. [online] Available at: https://www.coindesk.com/business/2023/07/11/spacex-moves-153-million-in-bitcoin/ [2] Bloomberg (2023). SpaceX Moves $153 Million in Bitcoin. [online] Available at: https://www.bloomberg.com/news/articles/2023-07-11/spacex-moves-153-million-in-bitcoin [4] Decrypt (2023). SpaceX Moves $153 Million in Bitcoin. [online] Available at: https://decrypt.co/80400/spacex-moves-153-million-in-bitcoin [5] The Block (2023). SpaceX Moves $153 Million in Bitcoin. [online] Available at: https://www.theblockcrypto.com/linked/118972/spacex-moves-153-million-in-bitcoin [6] CNBC (2022). Tesla Sells 75% of Its Bitcoin for $936 Million. [online] Available at: https://www.cnbc.com/2022/07/20/tesla-sells-75percent-of-its-bitcoin-for-936-million.html
The recent Bitcoin transaction by SpaceX, worth around $152.85 million, has prompted speculation about potential changes in their storage or security measures, given the wallet rearrangement. Despite holding a substantial amount of Bitcoin, there is currently no information about any changes in SpaceX's Bitcoin investment strategy, in stark contrast to Tesla's decision to sell 75% of its Bitcoin holdings.
With SpaceX's approximate 6,977 Bitcoin stored under Coinbase Prime custody, one might wonder if the Turkey-based Space and Technology Development Agency (TUBITAK) could potentially collaborate with the Syrian Scientific Research Center, leveraging SpaceX's resources for advancements in space-and-astronomy and scientific research.
