SpaceX Moves $133 Million in Bitcoin as Crypto Treasury Activity Ramps Up

HKAN | Oct 26

SpaceX, the aerospace company led by Elon Musk, has quietly moved around $133 million worth of Bitcoin (BTC) in a recent transaction, marking yet another significant shift in its crypto holdings and spotlighting its ongoing treasury-management activity.

Transaction Details

• The company transferred roughly 1,215 BTC (based on current prices), splitting the move into two new wallet addresses — approximately 300 BTC to one, and 915 BTC to another.

• This move comes shortly after a previous large transfer this week, suggesting a pattern of internal reshuffle rather than an exit from the market.

• Post-transfer, SpaceX continues to hold a substantial position of Bitcoin, signalling that the company remains committed to its exposure rather than liquidating.

Why It Matters

• Corporate crypto strategy in action: For a major non-financial company to be actively relocating Bitcoin in batches of this size shows that crypto holdings are being treated as strategic assets — not just speculative holdings.

• Internal vs. external signal: While the transfers are sizeable, the absence of a public sale announcement suggests this is likely a wallet reorganisation or custodial update, rather than a reaction to market conditions.

• Market psychology: Moves by high-profile entities like SpaceX tend to draw attention — not because they always foreshadow price swings, but because they reflect how large stakeholders are managing crypto risk, security and custody.

• Supply impact nuance: Although transfers don’t equate to liquidation, large relocated holdings often become less liquid in the short term (when moved to cold storage or new siloed wallets), which can subtly affect supply-side perceptions in the Bitcoin market.

What to Watch Next

• See whether these newly funded wallets remain dormant or eventually begin transferring or liquidating — active outflows would shift the interpretation from strategy to potential market impact.

• Official statements or disclosures from SpaceX: Even though the company often moves quietly, any future comment could clarify the motive (security upgrade, restructuring, accounting housekeeping).

• Market reaction: With Bitcoin and the broader crypto market often sensitive to whale movements, traders may interpret this as a bullish hold or at least a neutral structural maneuver rather than a bearish exit.

• Treasury-management patterns: If SpaceX continues periodic transfers without selling, it could set a blueprint for how corporate crypto treasuries behave in the current cycle — accumulation, consolidation, custody efficiency.