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After three years of absolute inactivity, a Bitcoin wallet belonging to SpaceX transferred 1,308 BTC valued at around $153 million. The transaction was made when Bitcoin was trading close to its $118,000 handle, just shy of its recent all-time high.
The revival of the wallet is interpreted as part of the company’s broader treasury rebalancing strategy, which was initially built upon by Elon Musk, having initially established its Bitcoin reserves during the 2021 bull run.
According to Arkham’s blockchain data, SpaceX currently has 6,977 BTC worth $821.12 million in custody with Coinbase Prime. This is a sharp drop compared to its previously reported holdings of 25,724 BTC at the height of its 2021 accumulation.
The transaction history also suggests that, at times, SpaceX has proceeded to move large amounts of BTC; for instance, some prior transactions involved the sale of 1,260 BTC, 1,100 BTC, and 1,130 BTC. These moves seem to be part of treasury optimization and portfolio restructuring, rather than emergency liquidation.
SpaceX’s action is part of a wider strategic movement within the corporation. Tycoons who have entered the crypto space during the 2020–2021 institutional wave are utilizing this move.
Elon Musk, who was initially doubtful about Bitcoin, subsequently spearheaded a $1.5 billion BTC purchase by Tesla, followed by open acknowledgment that SpaceX also held Bitcoin.
Musk then disclosed that he holds Bitcoin, Ethereum, and Dogecoin, and has signaled further commitment to the use of crypto in business. Hence, current wallet activities remain consistent with the continuous treasury rebalancing that forms part of the market cycles and asset management procedures.
In certain countries where the local currency is volatile, SpaceX has utilized stablecoins to pay for Starlink services. There is a possibility of executing one strategy: holding Bitcoin as a long-term reserve and utilizing genuine stablecoins for operational convenience.
As far as legitimately treating digital assets, this decision by SpaceX is strategic in tying crypto to its commercial and financial activities sooner or later.
Next to this, actual work from the company reveals more institutional players with crafty ways to use crypto instruments for balance sheet management and real-world utility.
Also Read: SpaceX Invests $2 Billion in xAI to Power Elon Musk’s AI Vision
That $153 million is merely a transfer, suggesting an active phase of portfolio management rather than an exit or disinterest. SpaceX may be somehow involved in the rearrangement of its Bitcoin holdings. The activity also suggests a long-term belief in Bitcoin's positioning as a treasury asset.
The size of SpaceX’s current holding is undoubtedly impressive in its own right, although notably less than in 2021, at around $821 million in BTC. The company's current crypto activity is further proof of its gradual evolution from speculative warehousing to institution-grade asset management. This confirms substantial changes in the status of Bitcoin in corporate finance.
At the time of press, Bitcoin is trading at $119,173, according to market data from Binance.
