SpaceX’s $1B Bitcoin Bet Shakes Markets as BTC Tumbles on Treasury Remarks

Elon Musk’s SpaceX just crossed a jaw-dropping milestone—its Bitcoin holdings now exceed $1 billion. But the crypto party hit a snag after fresh comments from the U.S. Treasury sent BTC into a tailspin.

Here’s the breakdown:

SpaceX Goes All-In on Bitcoin
The aerospace giant’s crypto stash now rivals some hedge funds—proving even rocket scientists see value in digital gold. Meanwhile, traditional finance pundits are still debating whether Bitcoin is ‘real money.’

Treasury Talk Triggers Sell-Off
BTC shed gains after regulators hinted at tighter oversight. Because nothing says ‘financial innovation’ like a good old-fashioned government intervention.

Market watchers are split: Is this a temporary dip or the start of a deeper correction? One thing’s certain—when SpaceX and the Treasury collide, crypto markets feel the shockwaves.

SpaceX Moves And Holdings

According to on-chain trackers, SpaceX built up those coins between December 31, 2020, and June 10, 2022, and later moved a chunk of its earlier stash to Coinbase Prime in mid-2022.

Recent on-chain activity shows the company relocated 1,308 BTC to a new address three weeks ago, a transfer that analysts treated as a shuffle rather than a sale.

According to Arkham data, SpaceX’s bitcoin holdings have exceeded $1 billion. The company holds a total of 8,285 BTC, having first acquired Bitcoin on December 31, 2020, and making its last purchase on June 10, 2022, after which it has held the coins to date.… pic.twitter.com/u54i0LUVkz

— Wu Blockchain (@WuBlockchain) August 14, 2025

Price Drop After Treasury Announcement

Based on reports, US Treasury Secretary Scott Bessent — serving under US President Donald Trump — said the government will not be buying additional Bitcoin for its strategic reserve, and that comment weighed on crypto markets.

Bitcoin fell from its roughly $124,000 peak and slipped below $119,000 in the hours after the disclosure. That drop trimmed market gains and cut the headline valuations of corporate holdings.

JUST IN:Treasury Secretary Bessent says the US Government is “not going to be buying” Bitcoin. pic.twitter.com/vL79P531CP

— Watcher.Guru (@WatcherGuru) August 14, 2025

According to Arkham, SpaceX once held a much larger position — roughly 28,000 BTC at its April 2021 peak — and pared back the size of its on-chain balance during the market turmoil of 2022.

The mid-2022 moves came amid shocks like the Terra-Luna collapse and the FTX bankruptcy, events that pushed many firms to rework crypto exposure. Those earlier shifts help explain why SpaceX’s present on-chain total is smaller than the peak it carried.

According to reports, Tesla continues to hold 11,509 BTC, worth about $1.4 billion at current prices. Combined, the two Musk-linked companies now hold roughly $2.42 billion in Bitcoin on paper, a figure that depends entirely on the price snapshot used to value the coins.

Reports say the Treasury’s plan to rely on confiscated crypto for any government reserve rather than buying new BTC could keep selling pressure off the market short term, but price action will follow many signals — macro moves, on-chain flows, and public remarks from big holders.

According to multiple reports, SpaceX’s remaining 8,285 BTC is worth about $1.02 billion, but that headline number is now sensitive to fast price swings after the Treasury’s announcement.

Featured image from Unsplash, chart from TradingView