SpaceX, the aerospace company founded by Elon Musk, transferred approximately $268.5 million worth of Bitcoin on Tuesday, marking its first significant movement of digital assets since July, according to on-chain data from Arkham Intelligence.
Arkham’s data shows that SpaceX currently holds around 8,285 BTC, valued at about $1.02 billion before the latest transfers.Â
The recent movement involved 2,395 BTC being sent to two separate on-chain addresses, both of which currently contain only Bitcoin and show no signs of liquidation or further transfers.
One address, beginning with bc1qq78, received roughly 1,187 BTC, while another address, starting with bc1qj7e, received 1,208 BTC. Both addresses remain unmarked in Arkham’s database, but blockchain analysts believe they likely belong to SpaceX or its custodial partner.
On-chain analyst Ai Yi, who first reported the transfers, noted that SpaceX made a fee payment to Coinbase Prime minutes before executing the transactions.
This suggests the transfers could represent a routine wallet reorganization rather than a sale, as SpaceX is known to custody its Bitcoin holdings with Coinbase Prime.
The company’s Bitcoin wallet last moved funds in July 2025, when it transferred 1,308 BTC, after three years of dormancy. That transaction was traced to a Coinbase Prime Custody wallet.
After Tuesday’s movement, SpaceX’s main wallet now holds 5,790 BTC, worth roughly $626.7 million, reflecting a decline of about 2.98% in value following Bitcoin’s drop below $110,000.
SpaceX’s Bitcoin holdings have fluctuated significantly since first appearing on-chain in early 2021.
At their peak in April 2021, the company held nearly 28,000 BTC, valued at around $1.8 billion. However, SpaceX reportedly sold about 70% of its holdings during the 2022 market downturn triggered by the Terra-Luna and FTX collapses.
On-chain analyst Ai Yi, who first reported the transfers, noted that SpaceX made a fee payment to Coinbase Prime minutes before executing the transactions.
This suggests the transfers could represent a routine wallet reorganization rather than a sale, as SpaceX is known to custody its Bitcoin holdings with Coinbase Prime.
The company’s Bitcoin wallet last moved funds in July 2025, when it transferred 1,308 BTC (then valued at $152 million) after three years of dormancy. That transaction was traced to a Coinbase Prime Custody wallet.
After Tuesday’s movement, SpaceX’s main wallet now holds 5,790 BTC, worth roughly $626.7 million, reflecting a decline of about 2.98% in value following Bitcoin’s drop below $110,000.
SpaceX’s Bitcoin holdings have fluctuated significantly since first appearing on-chain in early 2021. At their peak in April 2021, the company held nearly 28,000 BTC, valued at around $1.8 billion. However, SpaceX reportedly sold about 70% of its holdings during the 2022 market downturn triggered by the Terra-Luna and FTX collapses.