Elon Musk’s aerospace company SpaceX has transferred $94 million worth of Bitcoin, coinciding with reports of a potential initial public offering (IPO) that could value the company at $1.5 trillion.
The significant Bitcoin transfer was identified by on-chain analytics firm Lookonchain, which cited blockchain data from Arkham Intelligence. According to a post on X, SpaceX moved 1,021 BTC, valued at approximately $94.48 million at the time of the transaction.
SpaceX(@SpaceX) just transferred out another 1,021 $BTC($94.48M), to possibly Coinbase Prime for custody.https://t.co/zW62EKM2RDpic.twitter.com/PwBIvD5RaR
— Lookonchain (@lookonchain) December 10, 2025
Lookonchain suggested that the Bitcoin was transferred to a wallet address associated with Coinbase Prime for custody. This indication suggests that a sale is not immediately planned.
This recent transfer is not the first time SpaceX has moved its Bitcoin holdings. Since July 24, the company has executed several transfers to different custodians as part of routine operations. None of these previous transfers were followed by sales.
While the latest transfer is being interpreted by many as another routine movement of assets, some observers still anticipate a potential sale.
SpaceX has engaged in Bitcoin sales in the past. In mid-2022, the company divested approximately 70% of its holdings. This move is widely believed to have been a response to a market-wide crash triggered by the collapse of Terra-Luna and the subsequent implosion of FTX.
Even after that significant sale, data from Arkham Intelligence indicates that SpaceX continues to hold over 8,200 BTC in its wallets. At Bitcoin's current price of around $90,245, the company's cryptocurrency holdings are valued at more than $722.181 million.
Data from Bitcoin Treasuries reveals that SpaceX ranks as the fourth-largest private company holding BTC on its balance sheet. It is positioned below Stone Bridge Holdings with 10,000 BTC, Tether Holdings Limited with 87,475 BTC, and Block.one with 164,000 BTC.
SpaceX Plans $30 Billion IPO, Reports Indicate
The timing of the Bitcoin transfer has drawn significant attention from market observers, as it aligns with a December 10 report from Bloomberg. This report stated that the aerospace giant is actively progressing with plans for an IPO.
According to the report, SpaceX intends to raise $30 billion, aiming for a valuation of $1.5 trillion. Such a valuation would position the IPO as one of the largest in history.
Elon Musk is currently the world's wealthiest individual, with a net worth of $494.6 billion, according to Forbes. He has co-founded seven companies, including the electric vehicle manufacturer Tesla and the artificial intelligence startup xAI.
Should the IPO proceed at the projected $1.5 trillion valuation, Musk's reported 42% stake in SpaceX alone would be worth an estimated $630 billion.
Musk himself has alluded to the potential IPO in the past 24 hours. On X, the social media platform he owns, he shared a post from Bloomberg journalist Eric Berger. The post included the caption, “Here’s why I think SpaceX is going public soon,” along with a link to an article written by Berger.
As usual, Eric is accurate
— Elon Musk (@elonmusk) December 10, 2025
Quoting this post, Musk commented, “As usual, Eric is accurate.”
If SpaceX successfully goes public, it would be ranked as the 14th-largest publicly-listed Bitcoin holder. This placement would put it ahead of Strive, which holds over 7,500 Bitcoins, and below Block Inc., with its holdings exceeding 8,700 BTC.