SpaceX Moves $133 Million in Bitcoin During Market Swings

SpaceX shifted more than $133 million in Bitcoin on Friday, according to blockchain data reviewed by analytics firm Arkham Intelligence. The company transferred 1,215 BTC to several new addresses, indicating a major reshuffling of its digital holdings.

The move came only days after SpaceX carried out a similar transfer involving a comparable amount of Bitcoin. Together, the two transactions represent some of the company’s largest known on-chain movements this year.

Arkham reported that SpaceX sent 300 BTC, worth about $33 million, and another 915 BTC, valued at $100.7 million, to newly created wallets. Unlike earlier transfers, the new wallets are not labeled as SpaceX-owned, making it difficult to trace the exact path of the assets.

Before this latest shift, the firm held approximately 8,285 BTC, worth nearly $914 million at Bitcoin’s recent price above $110,000. Data from BitcoinTreasuries.net lists SpaceX among the top private companies holding Bitcoin, ranking fourth globally.

Why SpaceX May Be Moving Its Bitcoin

Several explanations could account for such a large transfer. One possibility is portfolio realignment. The company may be freeing up capital for internal operations, including the Starship program and the ongoing rollout of Starlink.

Another reason may involve market timing. With Bitcoin climbing throughout 2025, SpaceX could be locking in gains or diversifying its digital exposure.

The firm is also likely using Bitcoin for strategic payments to partners or suppliers who accept digital currency. SpaceX’s financial operations often blend technology and innovation, making crypto transactions consistent with its approach.

Besides, the company could be improving its liquidity to fund new projects. As a privately held business, SpaceX depends heavily on internal cash flow. Moving large Bitcoin reserves might help meet near-term financial needs.

In previous years, SpaceX wallets once held as many as 25,000 BTC, but that number fell to 8,285 BTC by mid-2022. The firm had no visible blockchain activity for nearly three years until it began consolidating assets earlier in 2025.

Market Timing and Industry Context

The timing of the transaction has drawn attention. Bitcoin traded at $110,541 on Friday, down 0.3% for the day but still roughly 12% below its all-time high of $126,080.

The move also coincided with several other global crypto developments - including Turkey’s $200 billion digital asset boom and new European Union sanctions on Russia’s A7A5 stablecoin. Such events have contributed to heightened volatility in the broader market.

Analysts note that SpaceX’s transfers may not necessarily be a sell-off. On the contrary, they may also be considered related to the change or transfer of the company's digital assets. The actual reason remains unknown, as SpaceX has not yet issued an official statement about the coins' movements.

In the meantime, another of Musk’s companies, Tesla, continues to hold a considerable amount of Bitcoin. Tesla’s 11,509 BTC makes it one of the top 10 companies in the world with cryptocurrency reserves, worth around $1.27 billion. Earlier in the year, Tesla reported approximately $600 million in profit from the revaluation of its Bitcoin holdings.

With all these developments, one question remains: Is SpaceX preparing for the future use of Bitcoin in its operations, or is it simply balancing its ledger for upcoming missions?

Conclusion

SpaceX's $133 million Bitcoin transfer is the largest on-chain transaction of 2025. The company may be selling some coins to diversify its cryptocurrency treasury or to purchase new equipment for future operations. As Bitcoin volatility continues, institutional crypto adoption is expanding.

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