- Elon Musk’s SpaceX moved more than $133 million worth of Bitcoin.
- The company transferred a total of 1,215 BTC to two separate, new wallets.
- The move follows other recent on-chain activity after a more than three-year lull.
Elon Musk’s aerospace company SpaceX moved over $133 million in Bitcoin on Friday, according to blockchain analysis firm Arkham Intelligence.
The sizable on-chain transfer is the latest in a series of recent actions after the company’s wallet was inactive for more than three years.
The transaction has sparked fresh market speculation, though it is not immediately clear why the funds were moved or whether the company intends to sell any portion of its substantial Bitcoin holdings.
A large on-chain transfer to untagged wallets
Arkham Intelligence reported that SpaceX transferred a total of 1,215 Bitcoin in two separate transactions to newly created wallets. “SpaceX just moved a total of $133.7M,” the analysis firm wrote.
They moved 300 BTC (about $33M) and 915 BTC (about $100.7M) to new wallets.
The move comes just days after the company shifted a similar amount of Bitcoin between addresses it controls.
Unlike those earlier transfers, Arkham noted that the newly receiving wallets are not currently labeled as belonging to the Hawthorne, California–based company.
A history of sizable Bitcoin holdings
Before these recent transfers, SpaceX held 8,285 BTC, worth roughly $914 million at current prices, making it the fourth-largest private corporate holder of Bitcoin, according to BitcoinTreasuries.net.
The company’s on-chain history shows its holdings were once much larger.
In 2022, addresses tagged as belonging to the aerospace firm contained up to 25,000 BTC, but that amount fell to the current level of 8,285 BTC by June of the same year.
After those adjustments, SpaceX recorded no further on-chain activity until earlier this year, when it began consolidating parts of its Bitcoin holdings.
Tesla’s own Bitcoin connection
Another Musk company, electric-vehicle and robotics maker Tesla, also maintains significant Bitcoin holdings.
Tesla currently holds 11,509 BTC, valued at more than $1.27 billion, putting it just outside the top 10 of publicly traded companies with Bitcoin treasuries.
Earlier this year, Tesla revalued its Bitcoin holdings under new accounting rules, a change that allowed the company to record quarterly gains of more than $600 million when BTC’s price rose following the U.S. presidential election.
On Friday, Bitcoin’s price edged down slightly and was trading around $110,541 for the day.
A SpaceX representative did not immediately respond to a request for comment on the purpose of the transfers.