SpaceX moves $268 million in bitcoin to two unlabeled addresses
SpaceX transferred 2,495 BTC from a wallet linked to the company to two addresses that are not labeled on-chain, Arkham Intelligence data shows. The coins equal about $268 million at current prices and represent the company’s first bitcoin movement since July 22.
Data show the two receiving addresses have not sent or sold any of the coins since the transfer. The company’s wallet balance had been around 8,285 BTC before Tuesday’s transaction.
Crypto analyst Ai Yi wrote the transfer "may be later identified as just part of its wallet reorganization," noting past SpaceX transactions were later linked to a custody address at Coinbase Prime.
The company has not issued a public comment about Tuesday’s transfer. Because the receiving addresses have not made outgoing transactions, the on-chain activity does not indicate a sale at this time.
Large corporates that hold bitcoin often rotate funds between internal wallets and custodians as part of treasury hygiene. Movements can reduce attack surfaces, refresh multisig setups, or consolidate UTXOs for fee efficiency ahead of potential activity.
The space company reportedly reduced its bitcoin holdings by ~70% around mid-2022 while Terra-Luna/FTX shut down. Arkham also records that Tesla, another Musk-linked company, currently holds 11,509 BTC.
SpaceX’s balance is modest relative to capital needs, but movements telegraph operational sophistication to counterparties. The company runs dollar-intensive programs like Starlink launches; preserving optionality across fiat rails and digital collateral can support deposits and financing.
As we noted earlier, Starlink’s new Mini dish is now rolling out as a compact, field-ready terminal with DC power support and a built-in Wi-Fi router. If expanded to Ukraine and border regions, a power-bank-friendly, weather-sealed terminal could materially boost resilience for responders, journalists, and critical teams during outages.
The company has not issued a public comment about Tuesday’s transfer. Because the receiving addresses have not made outgoing transactions, the on-chain activity does not indicate a sale at this time.
Large corporates that hold bitcoin often rotate funds between internal wallets and custodians as part of treasury hygiene. Movements can reduce attack surfaces, refresh multisig setups, or consolidate UTXOs for fee efficiency ahead of potential activity.
The space company reportedly reduced its bitcoin holdings by ~70% around mid-2022 while Terra-Luna/FTX shut down. Arkham also records that Tesla, another Musk-linked company, currently holds 11,509 BTC.
SpaceX’s balance is modest relative to capital needs, but movements telegraph operational sophistication to counterparties. The company runs dollar-intensive programs like Starlink launches; preserving optionality across fiat rails and digital collateral can support deposits and financing.
As we noted earlier, Starlink’s new Mini dish is now rolling out as a compact, field-ready terminal with DC power support and a built-in Wi-Fi router. If expanded to Ukraine and border regions, a power-bank-friendly, weather-sealed terminal could materially boost resilience for responders, journalists, and critical teams during outages.
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