SpaceX Shocks Markets With Sudden 1,308 BTC Transfer – What’s Elon’s Play?

SpaceX just moved 1,308 Bitcoin in a blink-and-you-miss-it transaction—no warning, no explanation. The crypto sphere is buzzing: liquidation, OTC deal, or just another Muskian head-fake?

Timing is… suspicious. BTC’s been range-bound for weeks, and suddenly a nine-figure stack changes hands? Either SpaceX is rebalancing its treasury (boring) or prepping for something spicy (likely).

Wall Street ‘experts’ are already spinning this as ‘strategic hedging’—because nothing says ‘risk management’ like parking company reserves in a volatile asset class. Meanwhile, retail traders are left deciphering blockchain tea leaves.

One thing’s certain: when Elon’s companies twitch, crypto markets convulse. Buckle up.

In brief

• SpaceX moved 1,308 bitcoins, worth 153 million dollars, for the first time in three years.
• The operation involved consolidating 16 separate wallets into a single SegWit address.
• Some analysts fear a potential BTC sale to strengthen SpaceX’s cash reserves.
• The impact on Bitcoin’s price remains limited, but strategic implications could be major.

A discreet but massive consolidation : SpaceX centralizes its Bitcoin holdings

While SpaceX and Tesla hold 2 billion $ in Bitcoin, on July 22, 2025, data from Arkham Intelligence revealed an unusual move by Musk’s space firm on the Bitcoin blockchain : 1,308 BTC, or nearly 153 million dollars, were transferred from 16 distinct addresses into a single SegWit-compatible address.

BREAKING: SPACEX JUST MOVED bitcoin FOR THE FIRST TIME IN 3 YEARS

They sent 1.3K BTC ($153M) to a fresh address this morning.

Cycling custody wallets or moving to sell? pic.twitter.com/bFkhkjYdho

This is the first on-chain activity recorded by SpaceX since June 2022, when more than 3,500 BTC were sent to Coinbase. This time, no destination to an exchange is identifiable, and the absence of official communication deepens the mystery surrounding this transaction.

Here are the confirmed facts so far :

• The amount transferred : 1,308 BTC, approximately 153 million dollars at the time of the operation ;

• Source addresses : 16 P2PKH-type wallets ;

• Destination address : a single P2WPKH address, commonly used to optimize fees and enhance security ;

• Last on-chain activity : June 2022, with a transfer of more than 3,500 BTC to Coinbase ;

• Total declared SpaceX BTC balance: 8,285 BTC, approximately 988.89 million dollars according to bitcointreasuries.net.

The use of a SegWit address may indicate a desire to simplify fund management or to adopt more recent security standards, especially for a private entity managing multiple wallets.

However, the lack of communication about the company’s intentions also fuels speculation, in a market where every move by an institutional player is immediately scrutinized and analyzed.

A tense context : political pressure, financial uncertainties, and speculation around a sale

This operation on the Bitcoin network occurs just days after the announcement of a thorough review of public contracts awarded to SpaceX by the US administration, following a public spat between Elon Musk and President Donald Trump.

Government contracts represent a vital part of SpaceX’s funding. Indeed, the company has received at least a billion dollars per year since 2016 in the FORM of grants, tax credits, and public contracts. This tense environment has led some observers to wonder if Musk might want to strengthen SpaceX’s cash reserves by selling its assets.

Especially since this concern fits into a shifting financial climate. Alongside this transfer, the Financial Times revealed that SpaceX is considering selling one billion dollars of its own shares, in a deal that could value the company at 400 billion dollars.

If this project materializes, it could more than cover any short or medium-term liquidity needs, making a BTC sale unnecessary, at least for now. No transfer to a centralized exchange platform has been observed.

This move did not cause major shocks in the market. The BTC price rose more than 2 % in 24 hours, trading around $119,800.

In the longer term, this consolidation could be the prelude to a strategic reorganization of crypto management at SpaceX, or even at Elon Musk himself. If Musk decided to reduce his companies’ crypto exposure, the impact would be considerable, not only on the price of the flagship asset but also on the institutional perception of bitcoin, a far better investment today than ten years ago.

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.