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Elon Musk’s SpaceX has moved over $152 million worth of bitcoin after more than three years of wallet inactivity, according to data from blockchain analytics platform Arkham Intelligence.
On July 22, a wallet linked to the company transferred 1,308.45 bitcoin—valued at approximately $152.85 million—to a new address, paying just 0.00024831 bitcoin (around $29) in transaction fees.
The move appears to be internal, with no change in SpaceX’s overall holdings, which now total 6,977 bitcoin, reportedly held via Coinbase Prime.
SpaceX’s bitcoin wallet has shown renewed activity, marking its most significant movement in over three years. This followed a recent small transaction of 0.000248 bitcoin (valued at less than $30) sent from the SpaceX wallet to Coinbase Prime.
Looking back, historical transaction data reveals that SpaceX received several large bitcoin deposits from Coinbase wallets between three and four years ago, with single transfers ranging between 1,100 and 1,279 bitcoin. During the 2021 crypto bull run, these holdings were worth more than $1.6 billion. However, the current value of SpaceX’s bitcoin assets has dropped to approximately $818.3 million.
According to Arkham’s portfolio tracking, SpaceX currently holds around 6,977 bitcoin, all stored under Coinbase Prime’s custody. Notably, the receiving address has yet to move any funds, indicating that this recent transfer may have been a wallet reshuffle—potentially aimed at improving security measures or reorganizing cold storage arrangements.
SpaceX first grabbed attention in 2021 when Elon Musk revealed the company owned bitcoin, though he didn’t share exactly how much. Reports later showed that by early 2021, SpaceX had around 25,724 bitcoin, worth about $373 million at the time. However, according to documents seen by The Wall Street Journal, the company wrote down these bitcoin holdings during 2021 and 2022 and may have sold most or all of them. While bitcoin was recorded on SpaceX’s balance sheet, it’s not clear if the entire amount was sold off.
Musk confirmed SpaceX’s bitcoin investment shortly after Tesla made its own big move, buying $1.5 billion worth of bitcoin when the crypto hit record highs. Tesla later sold 75% of its Bitcoin in the second quarter of 2022 for $936 million, keeping about $184 million worth. Known for his strong support of crypto, Musk has often shaken up the market with his tweets about bitcoin and dogecoin.
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