- Elon Musk’s SpaceX has moved more than $133,000,000 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 three years of dormancy.
According to data from the blockchain analytics firm Arkham Intelligence, Elon Musk’s aerospace company SpaceX moved more than $133,000,000 in Bitcoin on Friday.
This significant on-chain transfer is the latest in a series of actions taken by the company after the wallet remained largely inactive for more than three years.
The transaction has sparked fresh market speculation, but the reason for the fund movement remains unclear, and it is not known whether the company intends to sell any portion of its sizable Bitcoin holdings.
Major on-chain transfer to unlabeled wallets
Arkham Intelligence reported that SpaceX moved a total of 1,215 BTC to new wallets in two separate transactions. “SpaceX just moved a total of $133,700,000,” the analytics firm posted.
They moved 300 BTC (about $33 million) and 915 BTC (about $100.7 million) into new wallets.
The move followed earlier transfers in which the company shifted similar amounts of Bitcoin between addresses it controls a few days prior.
Unlike the earlier transfers, Arkham noted the new recipient wallets are not currently tagged as belonging to the Hawthorne, California–based company.
History of large Bitcoin holdings
According to BitcoinTreasuries.net, prior to these recent transfers SpaceX held 8,285 BTC, worth roughly $914,000,000 at current prices, making it the fourth-largest private corporate holder of Bitcoin.
The company’s on-chain history shows its holdings were once much larger.
In 2022, addresses labeled as belonging to the aerospace firm held as many as 25,000 BTC, but that figure fell to the current level of 8,285 BTC by June of that year.
After those moves, SpaceX recorded no further on-chain activity until earlier this year, when it began consolidating part of its Bitcoin holdings.
Tesla’s separate Bitcoin connection
Musk’s other company, the electric vehicle and robotics manufacturer Tesla, also maintains a close connection to Bitcoin.
The company currently holds 11,509 BTC, valued at more than $1.27 billion, placing it among the top publicly traded corporate holders of Bitcoin.
Earlier this year, Tesla revalued its Bitcoin holdings under revised accounting rules, which allowed the company to record over $600 million in quarterly gains when Bitcoin’s price rose following the election of President Donald Trump.
As of Friday, Bitcoin’s price was slightly lower on the day, trading around $110,541.
A representative for SpaceX did not immediately respond to a request for comment on the purpose of the transfers.