1,021 BTC transferred as SpaceX consolidates holdings ahead of potential record-breaking public listing
SpaceX has transferred 1,021 BTC, valued at approximately $95 million, to two unlabeled addresses on Wednesday, marking the second such transfer this month and the ninth of 2025. Analysts suggest these moves are part of a broader custody consolidation, likely updating legacy Bitcoin addresses to newer formats for improved security and efficiency.
In total, SpaceX has moved around 8,910 BTC ($924 million) in recent months, primarily through institutional custody platform Coinbase Prime. The recent transfer split funds into 614 BTC and 407 BTC, reflecting internal reorganization rather than market sales. Such movements indicate a transition from older “1”-style addresses to modern formats starting with “bc1q”, and potentially further to Taproot addresses, the latest in Bitcoin address technology.
This activity occurs alongside reports that SpaceX is preparing for a 2026 initial public offering (IPO), potentially raising over $30 billion at a projected valuation of $1.5 trillion. If realized, this could become one of the largest IPOs in history, comparable to Saudi Aramco’s 2019 listing. The timing of the IPO may extend into 2027 depending on market conditions.
SpaceX’s Bitcoin management follows Tesla’s earlier holdings strategy, which included partial divestment during market shocks in 2022. Current on-chain data shows SpaceX’s Bitcoin balance remains substantial, though precise totals vary due to labeling and ongoing transfers.
The combination of strategic Bitcoin movements and a potential mega-IPO highlights SpaceX’s efforts to strengthen its financial structure and maintain flexibility ahead of market conditions, signaling long-term planning for both corporate treasury management and investor readiness.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.