SpaceX, Elon Musk's aerospace company, has made another big bitcoin transfer that is said to be worth more than $105 million. This indicates that the company is still active with the world's largest cryptocurrency. Blockchain data from Arkham Intelligence revealed that the company moved 1,163 BTC on Wednesday. This was the largest transaction since October.
SpaceX(@SpaceX) transferred out another 1,163 $BTC($105.23M) 2 hours ago, possibly to Coinbase Prime for custody.https://t.co/zW62EKM2RD pic.twitter.com/vrbu6tPGR4
— Lookonchain (@lookonchain) November 27, 2025
Latest bitcoin transfer details
According to data from Arkham Intelligence, SpaceX transferred 1,163 BTC, valued at approximately $105.4 million, to two unmarked wallets at around 6:16 p.m. The transfer was split into two portions: 399 BTC was sent to the wallet address “bc1qh…galzy,” while 764 BTC went to another address, “bc1q4…u54ez.”
The recent movement mirrors an earlier transaction on October 29, when SpaceX shifted 281 BTC to a different wallet. Arkham’s data further shows that after this latest transfer, the company currently holds about 6,095 BTC, roughly $552.9 million based on current prices. As of 9 p.m. on Wednesday, bitcoin was trading at $90,921, up 3.14% in the past 24 hours.
Possible reasons for the transfer
While SpaceX has not made any public comment about the purpose of the transfer, It has several potential explanations. These transfers could be an internal custodial adjustment, possibly consolidating existing balances into new wallets for security and asset management purposes.
The transactions signal custody reorganization rather than liquidation, with both receiving wallets showing no outgoing transfers or exchange activity so far. Blockchain records indicate that SpaceX’s wallet had remained inactive for nearly three years before resuming activity in late July.
SpaceX’s bitcoin history and treasury adjustments
SpaceX’s relationship with bitcoin stretches back several years. The company reportedly held as much as 25,000 BTC in 2022, but reduced its holdings significantly, by roughly 70%, following the Terra-Luna collapse and the broader crypto market downturn. Since then, SpaceX has not made any new bitcoin purchases, according to Arkham data.
This latest transaction, therefore, represents part of a broader pattern of portfolio management and restructuring, rather than fresh accumulation. Current holdings place SpaceX fourth among privately held companies with bitcoin assets, according to data from BitcoinTreasuries.
Comparison with Tesla’s crypto position
Another company under Elon Musk’s umbrella, Tesla, went through a similar trajectory with its bitcoin holdings. The electric vehicle manufacturer sold a large portion of its bitcoin in 2022, citing the need to improve liquidity amid volatile market conditions. Tesla currently holds 11,509 BTC, valued at about $1.05 billion, ranking 11th among public firms with bitcoin exposure.
Although Musk has been a vocal supporter of cryptocurrencies, both Tesla and SpaceX seem to be approaching their digital asset strategies conservatively. Their focus appears to be more on treasury diversification and secure custody rather than active trading or speculative investment.
Market impact and outlook
The latest SpaceX bitcoin movement comes at a time of renewed strength for crypto markets. Bitcoin has rebounded from recent monthly declines, recapturing key support levels and attracting institutional inflows. Traders and analysts are monitoring large transfers from entities like SpaceX closely, as they can influence market sentiment and liquidity.
For now, the blockchain trail shows no indication of liquidations, reinforcing the view that SpaceX’s actions are part of a custody realignment. Still, with corporate adoption of digital assets back in focus, such high-profile transactions could further highlight the evolving role of bitcoin in corporate treasuries and institutional finance.
Roman Zaika
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