SpaceX Transfers $133M Bitcoin Amid Consolidation Efforts
SpaceX moved $133.7M in bitcoin to new wallets in apparent consolidation; holds about 6,970 BTC (~$770M).
Elon Musk’s aerospace company, SpaceX, has initiated a significant movement of its bitcoin holdings, transferring $133.7 million worth of the cryptocurrency to new wallet addresses. The transaction, which occurred on Friday, marks the second substantial bitcoin transfer by the company in less than a week.
Major Transfers in One Week
On Tuesday, SpaceX transferred approximately $268.5 million in bitcoin, just three days before the latest transaction. According to blockchain analytics firm Arkham Intelligence, SpaceX currently holds 6,970 bitcoin, valued at roughly $770 million as of Friday, when bitcoin was trading at $110,493.92.
The recent transfers are among the first major bitcoin movements by SpaceX since July. The company’s bitcoin wallets had remained inactive for several months until this week’s activity.
Focused on Wallet Consolidation
Blockchain analysts monitoring the transactions suggest that the movements are part of a wallet consolidation strategy. SpaceX appears to be transferring its cryptocurrency holdings from older wallet addresses to newer ones, possibly for improved organization and security.
A portion of the transferred funds temporarily appeared in Coinbase Prime wallets, indicating the potential use of custody services for these holdings. However, analysts believe these transactions are internal movements rather than sales, with no evidence of bitcoin being sold during the transfers.
"SpaceX transferred another 1,215 $BTC ($133.68M) to two new wallets - likely for custody purposes", reported Lookonchain on October 24, 2025.
Arkham Intelligence also noted that SpaceX liquidated small amounts of bitcoin as part of the wallet reorganization process, including 300 BTC valued at $33 million and 915 BTC worth $100.7 million.
A History of Bitcoin Activity
SpaceX significantly reduced its bitcoin holdings in mid-2022, selling about 70% of its position during a period of market turmoil following the Terra-Luna collapse and the FTX failure. Since then, the company has maintained its current holdings without additional purchases, focusing on reorganizing its bitcoin reserves rather than expanding them.
Tesla, another company owned by Elon Musk, followed a similar trajectory during the same period. The electric carmaker sold most of its bitcoin holdings in 2022 but still retains 11,509 BTC, valued at $1.24 billion.
Despite the recent activity, SpaceX’s bitcoin movements do not indicate a change in its acquisition strategy. The focus remains on consolidating and safeguarding existing holdings, with no evidence of new purchases.
Arkham Intelligence continues to monitor SpaceX’s bitcoin wallet activity, providing insights into the company’s holdings and movements as it navigates the cryptocurrency space.
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