Elon Musk’s aerospace company SpaceX transferred $133.7 million worth of bitcoin on Friday, the second major transfer in less than a week, according to Arkham Intelligence.
On Tuesday, SpaceX transferred approximately $268.5 million in bitcoin, the first major move since July. According to Arkham, SpaceX is holding approximately 6,970 bitcoin worth about $770 million. Bitcoin was changing hands at $110,493.92 as of 1:31 p.m. ET, according to The Block Price Page.
As some of have suggested, it appears that SpaceX is simply transferring bitcoin in an effort to consolidate its BTC while moving the cryptocurrency from older, legacy wallet addresses to new, modern ones.
In mid-2022, SpaceX reportedly reduced its bitcoin holdings by around 70%, possibly triggered by the market-wide shock caused by the Terra-Luna meltdown and the collapse of FTX. SpaceX has not purchased more bitcoin since, according to Arkham data.
Musk’s Tesla also sold off a bulk of its bitcoin holdings in 2022. It currently holds 11,509 BTC, worth $1.24 billion, according to Arkham data.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
