SpaceX Shakes Crypto Markets: Elon Musk’s 1,308 BTC Move Marks First Blockchain Activity Since 2021
Elon Musk's aerospace giant breaks its Bitcoin silence with a seismic wallet shift—just as the crypto markets needed another volatility trigger.
The 1,308 BTC transaction—SpaceX's first onchain movement in four years—sends traders scrambling to decode Musk's next play. Is this a strategic liquidation or a precursor to deeper crypto integration?
Meanwhile, Wall Street analysts clutch their pearls while retail investors FOMO into memecoins. Some things never change.
Bitcoin Consolidation Highlights Strategic Intent
SpaceX executed the bitcoin transaction by withdrawing funds from 16 separate legacy wallet addresses. All funds were moved to a modern SegWit-compatible address, which is designed for greater efficiency and cost reduction. Such consolidation typically suggests internal treasury optimization rather than external pressure.
The total value of Bitcoin moved was estimated at $153 million at the time of the transaction. Arkham Intelligence, a blockchain analytics firm, tracked the addresses and confirmed the transaction belonged to SpaceX. Despite the large sum involved, the move did not affect broader market volatility.
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
— Arkham (@arkham) July 22, 2025
SpaceX currently holds approximately 6,977 BTC, which is valued NEAR $815 million. This positions the company as one of the largest known corporate holders of Bitcoin. Still, SpaceX has never detailed its long-term cryptocurrency strategy beyond its 2021 disclosure.
Political Tensions and Contract Diversification
The transfer occurred while SpaceX faces heightened political pressure and contract scrutiny from the U.S. government. Reports in June stated the TRUMP administration considered reviewing or canceling $22 billion in contracts tied to the company. While critical contracts remained intact, the episode revealed growing federal concerns.
Recently, the Pentagon announced plans to diversify suppliers for the $175 billion Golden Dome missile defense system. This shift aims to reduce the government’s dependency on SpaceX for critical defense technologies. The decision introduces new competition into the national space infrastructure landscape.
