SpaceX moved 1,163 BTC worth about $105m to a new Coinbase Prime-linked wallet after years of dormancy, trimming on-chain holdings to 6,095 BTC as analysts flag a custody reshuffle, not a sale.
Summary
- SpaceX transferred 1,163 BTC to a new wallet likely tied to Coinbase Prime, following a similar 1,215 BTC move in October.
- The firm’s wallet, inactive for three years until July 2025, now holds 6,095 BTC, down from a peak of about 25,000 BTC in 2022.
- Analysts see the transactions as custody reorganization rather than liquidation, while Tesla still holds 11,509 BTC amid Bitcoin’s market rebound.
SpaceX transferred 1,163 Bitcoin valued at approximately $105 million to a new wallet on Nov. 27, according to blockchain data provider Arkham Intelligence.
The transfer occurred during early Asian trading hours and appears to have been sent to Coinbase Prime for custody purposes, according to Arkham data.
The transaction follows a similar move in October, when the space exploration company sent 1,215 BTC to multiple new addresses, the data showed.
SpaceX’s wallet currently holds 6,095 Bitcoin (BTC) following the recent transfer, according to BitcoinTreasuries, which ranks the company fourth among privately held companies with Bitcoin holdings.
The SpaceX wallet remained inactive for three years before resuming activity in late July 2025, according to blockchain records. The company held as much as 25,000 BTC in 2022 but subsequently reduced its on-chain balance to current levels.
SpaceX has not issued a statement regarding the purpose of the transfers or whether they indicate a sale, internal restructuring, or enhanced security measures for its cryptocurrency holdings.
Market analysts have suggested the transactions signal custody reorganization rather than liquidation, according to industry reports. Both receiving wallets show no outgoing transfers, exchange interactions, or liquidation activity, the data indicated.
Tesla, another company owned by Elon Musk, holds 11,509 BTC, placing it 11th among publicly traded firms with Bitcoin holdings, according to BitcoinTreasuries.
Bitcoin has rebounded from a monthly decline alongside broader gains in the cryptocurrency market, according to market data.
