Some have previously suggested that SpaceX was simply transferring bitcoin in an effort to consolidate its holdings.Some have previously suggested that SpaceX was simply transferring bitcoin in an effort to consolidate its holdings.

SpaceX transfers $105 million in bitcoin to unmarked wallets: Arkham

2025/11/27 10:24
2 min read

Elon Musk's aerospace company SpaceX transferred over $105.4 million worth of bitcoin on Wednesday, according to data from Arkham Intelligence.

SpaceX moved 1,163 BTC to two unmarked wallets at around 6:16 p.m., where 399 BTC was sent to address "bc1qh…galzy" and 764 BTC was transferred to "bc1q4…u54ez," Arkham data shows.

This is the company's first notable bitcoin transfer since Oct. 29, when it moved 281 BTC to a new wallet address.

According to Arkham, SpaceX currently holds approximately 6,095 BTC, worth around $552.9 million as of today. Bitcoin is trading at $90,921 as of 9 p.m. on Wednesday, up 3.14% in the past 24 hours. 

SpaceX's motive behind the transfers is unclear. Some have suggested that SpaceX is simply transferring bitcoin in an effort to consolidate its BTC while moving the cryptocurrency from older, legacy wallet addresses to new, modern ones.

In mid-2022, SpaceX reportedly reduced its bitcoin holdings by around 70%, possibly triggered by the market-wide shock caused by the Terra-Luna meltdown and the collapse of FTX. SpaceX has not purchased more bitcoin since, according to Arkham data.

Musk's Tesla also sold off a bulk of its bitcoin holdings in 2022. It currently holds 11,509 BTC, worth $1.05 billion, according to Arkham data.


Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
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