In summary
- SpaceX moved more than 1,200 BTC, or $133 million in funds, on Friday.
- The transfers follow similarly sized moves earlier this week.
- Details about the company’s plans are not yet known.
Elon Musk’s space exploration company, SpaceX, moved more than $133 million in bitcoin on Friday, according to blockchain analysis firm Arkham Intelligence.
He company transferred 1,215 Bitcoin in total to separate addresses, a few days after transferring a similar amount to addresses it controls.
“SpaceX has just moved funds for a total of $133.7 million,” the analysis firm published. “They transferred 300 BTC ($33 million) and 915 BTC ($100.7 million) to new wallets.”
Unlike SpaceX transfers earlier in the week, the new wallets are not currently labeled as belonging to the Hawthorne, California-based company.
Before the transfers, the company held 8,285 BTC worth around $914 million, as Bitcoin recently traded above $110,000. That’s enough to rank fourth on the list of private companies with Bitcoin treasures, according to data from Bitcoin.net Treasures.
In 2022, recipients labeled as belonging to the aerospace company had up to 25,000 BTC, but that number dropped to 8,285 BTC in June of that year.
After those moves, SpaceX did not record any on-chain activity until earlier this year, when it consolidated some of its Bitcoin holdings into its first chain activity in more than three years.
It is not immediately clear why the company transferred the funds or if it intends to sell some of its Bitcoin holdings. A SpaceX representative did not immediately respond to Decipher request for comment.
Another of Musk’s companies, Tesla, also maintains a strong connection with Bitcoin. The automotive and robotics company currently holds 11,509 BTC, worth more than $1.27 billion, putting it just outside the Top 10 Publicly Traded Companies with Bitcoin Treasures.
Earlier this year, Tesla revalued its holdings based on new accounting standardsleading it to post more than $600 million in quarterly profits as BTC surged following the election of President Donald Trump.
Tesla has seen no further activity on the chain since it moved $765 million in BTC for new wallets in October 2024.
Bitcoin is down modestly on the day, falling 0.3% to $110,541, about 12% from its all-time high of $126,080.
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