A SpaceX-linked wallet has transferred over $153 million in Bitcoin, marking its first on-chain activity since June 2022. The move, involving 1,308 BTC, has sparked speculation across the crypto space, though its purpose remains unclear.
The transaction was flagged by Arkham Intelligence, which tracks blockchain activity among major entities.
According to Arkham, the funds were moved from address 15oKQ7…i7Jf1G—associated with SpaceX—to a previously inactive wallet (bc1q8k…phartf). This is SpaceX’s first known outbound transfer since sending 3,505 BTC to Coinbase in 2022, then worth $102 million.
SpaceX Still Holds 6,977 BTC—Now Worth Over $815 Million
Even after the latest transaction, SpaceX’s holdings stand at 6,977 BTC, valued at roughly $815 million at current market prices. This places the company among the largest corporate holders of Bitcoin, behind only MicroStrategy (MSTR) and Tesla (TSLA)—the latter also owned by Elon Musk.
With Bitcoin trading near $118,000, these holdings represent a substantial portion of the company’s balance sheet.
The receiving wallet is currently unlabeled, and as of this writing, no further movement of the transferred Bitcoin has been observed.
Purpose of Transfer Still Unclear
There is no official explanation yet from SpaceX or Elon Musk regarding the reason for the transfer. Analysts suggest it could be part of:
- Internal treasury reshuffling
- A possible custodial change
- Or even preparation for a sale, though no sell-side activity has been confirmed on exchanges.
“It’s too early to say whether this is a sell signal or just cold wallet maintenance,” one blockchain analyst noted.
A Signal for Institutional Bitcoin Strategy?
SpaceX’s move comes at a time when corporate crypto strategy is under the spotlight, especially following the surge in ETF participation and renewed institutional interest in Bitcoin and Ethereum.
Given Musk’s history of crypto engagement—personally and through Tesla—this movement is likely to be closely watched in the days ahead.
For now, the funds sit untouched in the new wallet, but market participants are keeping a close eye for any further movement that could signal the company’s next strategic move.
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.