Executive Summary
The Story So Far
Why This Matters
Who Thinks What?
Elon Musk’s space exploration company, SpaceX, moved over $133 million in Bitcoin on Friday, October 24, 2025, according to blockchain analytics firm Arkham Intelligence. These transfers follow similar large movements of Bitcoin by the company earlier in the week, indicating active management of its cryptocurrency holdings.
Recent Bitcoin Transfers
SpaceX transferred a total of 1,215 Bitcoin to new, unlabelled addresses. This amount was split into two transactions: 300 BTC, valued at approximately $33 million, and 915 BTC, worth about $100.7 million, as reported by Arkham Intelligence.
Unlike previous transfers earlier in the week, the wallets receiving these latest funds are not currently identified as belonging to the Hawthorne, California-based firm, raising questions about the ultimate destination or purpose of the funds.
Historical Holdings and Context
Prior to these recent transfers, SpaceX held 8,285 BTC, valued at approximately $914 million, with Bitcoin trading above $110,000. This position placed SpaceX as the fourth-largest privately held company with Bitcoin treasuries, according to data from BitcoinTreasuries.net.
The company’s Bitcoin holdings have fluctuated significantly; in 2022, addresses linked to SpaceX held as much as 25,000 BTC. However, this figure decreased to 8,285 BTC by June of that year, followed by a period of minimal on-chain activity until earlier this year when it consolidated some holdings.
Uncertainty Surrounding Motives
The precise reasons behind these substantial Bitcoin transfers remain unclear. SpaceX has not publicly commented on the movements, and a representative did not immediately respond to requests for comment regarding any potential sales or strategic shifts in its crypto asset management.
Tesla’s Bitcoin Connection
Another of Elon Musk’s ventures, Tesla, also maintains a significant connection to Bitcoin. The electric vehicle and robotics company currently holds 11,509 BTC, valued at over $1.27 billion, positioning it among the top publicly traded companies with Bitcoin treasuries.
Earlier this year, Tesla re-evaluated its holdings based on new accounting rules, which contributed to over $600 million in quarterly profits as Bitcoin’s value increased following the election of President Donald Trump. Tesla’s last recorded on-chain activity involved moving approximately $765 million in BTC to new wallets in October 2024.
Key Takeaways
SpaceX has undertaken significant transfers of its Bitcoin holdings, moving over $133 million in BTC to new, unlabelled wallets. While the reasons for these movements are currently unknown, they highlight the company’s active engagement with cryptocurrency assets, mirroring its sister company Tesla’s substantial Bitcoin portfolio.
