SpaceX Consolidates Bitcoin Holdings Worth $914M

SpaceX, Elon Musk's aerospace company, moved over $133 million in Bitcoin, according to blockchain analytics firm Arkham Intelligence. The transaction involved transferring 1,215 BTC to multiple separate addresses, following similar transfers a few days earlier to addresses controlled by SpaceX.

Arkham Intelligence notes two distinct transfers: 300 BTC (~$33M) and 915 BTC (~$100.7M) to new wallets not officially linked to SpaceX. Prior to these moves, the company held 8,285 BTC, valued at approximately $914 million, ranking fourth among private companies with Bitcoin reserves, according to BitcoinTreasuries.net.

In 2022, SpaceX-associated wallets held up to 25,000 BTC, which dropped to 8,285 BTC by June 2022. After these transfers, the company had no on-chain activity until earlier this year, when it consolidated part of its Bitcoin holdings. The exact purpose of the transfers and potential intentions to sell remain unclear, and a SpaceX representative did not respond to requests for comment.