SpaceX Shakes Crypto Markets: $153 Million Bitcoin Move After Radio Silence

Elon Musk's aerospace giant breaks its Bitcoin hibernation with a seismic $153M transfer—just as institutional interest hits fever pitch.

The Whale Awakens

After years of dormancy, SpaceX's cold wallet just coughed up enough BTC to buy a small moon base. The move sent shockwaves through crypto forums—was this a strategic liquidation or just Musk trolling bagholders again?

Wall Street's Crypto Whiplash

Traders scrambled as blockchain sleuths tracked the transaction. Meanwhile, traditional finance pundits—who still think 'HODL' is a typo—insisted this proves crypto's volatility. Cue eye-rolls from the DeFi crowd.

Timing Is Everything

The transfer coincides with Bitcoin's consolidation above $60K. Coincidence? Unlikely. SpaceX's treasury strategy now looks as calculated as their rocket landings—and just as explosive for market sentiment.

The Bottom Line

When billion-dollar corporations play hot potato with digital gold, retail investors get burned. But hey—at least the transaction fees were cheaper than a Wall Street broker's lunch.

SpaceX Transfers $153M In Bitcoin—What Changed?

The last time SpaceX’s treasury made an outbound move was on 10 June 2022, when 3,505 BTC—then worth about $102 million—were sent to Coinbase, a transfer that coincided with Tesla’s decision a month later to sell three‑quarters of its own Bitcoin position. Since then the aerospace company’s holdings have declined from the 8,285 BTC Arkham attributed to it in March 2024, but it still retains 6,977 BTC, valued near $815 million at the current spot price.

Arkham has repeatedly framed Elon Musk’s corporate balance sheets as a single macro bet on digital gold. In a 27 June tweet the analytics firm reminded followers that “Tesla and SpaceX hold over $2 BILLION of BTC combined. They purchased this at an average price of ~$32K.” With bitcoin hovering around $117,000 on Tuesday, that blended cost basis translates into unrealised gains of almost 270 percent.

Market chatter has inevitably homed in on motive. Because the destination address has not spent a satoshi, several desk analysts read the transfer as a custodian reshuffle, possibly into colder storage or a segregated multisig structure—especially after Coinbase Prime replaced Xapo as a preferred institutional custodian last year. The timing is conspicuous. Bitcoin printed a new all‑time high of $122,800 on 18 July before sliding back to the $117,000 handle today. A treasury movement of this size at elevated price levels can catalyse rumours of an imminent sale, yet on‑chain behaviour so far does not corroborate such fears.

Notably, SpaceX has never disclosed its digital‑asset strategy beyond Musk’s 2021 confirmation that the firm owned Bitcoin alongside Tesla. Tuesday’s transfer therefore revives a familiar question: will a company whose Core mission is interplanetary logistics eventually monetise its stack, or will it emulate MicroStrategy’s “permanent reserve” philosophy?

For now, the MOVE appears operational rather than directional. The coins are on the move, but not on the market. Unless the recipient address begins to peel outputs toward exchange clusters, the episode is likely to remain an accounting footnote—albeit one worth nine digits in fiat terms and a reminder that even rockets need cold wallets.

At press time, BTC traded at $119,394.