SpaceX moved 2,395 BTC worth $268 million to two separate addresses on Tuesday, marking its first significant Bitcoin transaction in three months. This movement occurred as the price of Bitcoin dipped below the $110,000 level.
According to data from Arkham Intelligence, the transfer is the company’s first major Bitcoin movement in three months. The timing coincides with a notable decline in Bitcoin's price.
According to @ai_9684xtpa, SpaceX has transferred $268 million worth of BTC, marking its first major Bitcoin movement in three months. About 1,187 BTC went to a bc1qq address and 1,208 BTC to a bc1qj7 address, both inactive so far. The July transfer was later tagged by Arkham as…
— Wu Blockchain (@WuBlockchain) October 21, 2025
On-chain analyst Ai Yi reported that the transfer appeared to be a routine internal wallet reorganization rather than a sale. The analyst stated, “It looks like standard housekeeping, as the firm also paid a transfer fee to Coinbase Prime before the transaction.”
Two Large Transfers to New Wallets
Arkham data indicated that SpaceX transferred a total of 2,395 BTC. Approximately 1,187 BTC were sent to a wallet beginning with “bc1qq78,” and another 1,208 BTC were directed to a wallet starting with “bc1qj7e.” Both of these newly established addresses currently hold only Bitcoin and have not shown any further activity or signs of liquidation.

SpaceX’s previous Bitcoin transfer occurred in July 2025. At that time, the company moved 1,308 BTC, valued at approximately $153 million, to a Coinbase Prime Custody wallet after a period of three years of inactivity. Analysts suggest that the current transaction follows a similar pattern, implying internal fund management rather than an attempt to sell off holdings.
SpaceX’s Current Bitcoin Holdings
Following this latest transfer, the SpaceX-linked wallet now holds 5,790 BTC. Based on current market prices, this amount is valued at approximately $626.7 million. Prior to these recent transactions, SpaceX was reported to hold 8,285 BTC, which was equivalent to roughly $895 million.
The company’s Bitcoin holdings remain substantial, exceeding those of several publicly traded firms, including GameStop and Semler Scientific. However, SpaceX’s holdings are less than those of Tesla, which currently possesses about 11,509 BTC valued at $1.24 billion.
Both SpaceX and Tesla have maintained Bitcoin on their balance sheets since 2021. Tesla sold 75% of its Bitcoin holdings in 2022 but continues to be among the leading corporate holders of the cryptocurrency. Collectively, companies associated with Elon Musk currently hold approximately $1.86 billion in Bitcoin.
As of the latest reporting, Bitcoin is trading at $107,875, reflecting a 2.9% decrease over the past 24 hours. Despite this recent price decline, analysts interpret SpaceX’s transfer as a standard operational move, not an indicator of broader market activity or sentiment.

