SpaceX by Elon Musk makes major Bitcoin transfer
SpaceX transferred 281 BTC, worth around $31.28 million, from Coinbase Prime to a new wallet on October 30, 2025. According to Arkham Intelligence, this is the company’s third such transfer in 10 days.
This is not SpaceX’s first on-chain activity: a week ago, Arkham tracked two large transfers of more than 1,200 BTC (worth $268.5M and $133.7M). Earlier, on October 21, the company transferred 2,495 BTC (around $257M).
In total, the company holds 7,258 BTC, worth about $785 million, comprising its entire crypto portfolio. There have been no recent sales, only internal transfers likely for security or custody purposes. Separately, Tesla holds $1 billion in Bitcoin and reported an $80 million gain in the third quarter of 2025.
Tesla made its first major Bitcoin purchase in February 2021, when it announced a $1.5 billion investment in the cryptocurrency to diversify its cash holdings. Shortly after, the company briefly began accepting Bitcoin for vehicle purchases in March 2021, though this was suspended in May 2021 due to environmental concerns related to Bitcoin mining. SpaceX first publicly disclosed its BTC holdings in July 2021.
SpaceX founder and Tesla CEO Elon Musk recently stated on X that Bitcoin's value is tied to energy, making it a sound store of value because it is "impossible to fake energy," contrasting it with inflationary fiat currencies.
Musk is also a known user of Polymarket, a decentralized information and prediction market built on the Polygon blockchain. Although he has not explicitly confirmed trading on the platform, he has repeatedly engaged with it on his social media platform X. Polymarket and X also announced a partnership in June to provide data-driven insights and recommendations that are generated from analysis of user activity.
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