- SpaceX moved 281 Bitcoin, valued at over $31 million, from Coinbase Prime to a new wallet on Wednesday.
- The reason for the transfer—whether for sales, security, or other uses—has not been disclosed.
- SpaceX holds approximately 8,285 BTC, worth $894 million, ranking as the fourth largest private corporate Bitcoin treasury.
- This activity follows a recent series of large transfers after three years of no movement.
- Tesla, also led by Elon Musk, owns 11,509 BTC valued at about $1.24 billion, placing it just outside the top 10 public companies by Bitcoin holdings.
SpaceX, the aerospace company led by Elon Musk, transferred 281 Bitcoin (BTC) worth over $31 million from its Coinbase Prime account to a new wallet on Wednesday. The company has not explained whether this move indicates selling, shifting storage, or other intentions.
This transfer continues a pattern of Bitcoin movements by SpaceX after a three-year period of inactivity. The company now holds roughly 8,285 BTC, which totals about $894 million. This positions SpaceX as the fourth largest private corporate holder of Bitcoin, according to data from bitcointreasuries.net.
Prior to June 2022, SpaceX owned nearly 25,000 BTC but reduced its holdings to the current level by mid-2022. The recent activity involves moving hundreds of millions of dollars of Bitcoin through wallets linked to the company.
Tesla, another company led by Elon Musk, maintains a separate Bitcoin reserve of 11,509 BTC, valued at around $1.24 billion. This amount places it just outside the ten largest publicly traded companies with Bitcoin treasuries. Tesla’s last known Bitcoin on-chain move was in October 2024 when it transferred holdings to new wallets without public explanation.
Earlier this year, Tesla benefited from updated accounting rules allowing it to revalue its Bitcoin holdings. This change resulted in over $600 million of quarterly profits as Bitcoin prices rose following political events.
Efforts to obtain comments from SpaceX about the recent Bitcoin transactions have so far been unanswered.
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