SpaceX Just Moved $150M in Bitcoin—Is Musk Signaling Something

For the first time in three years, SpaceX appears to have made a move with its Bitcoin stash. Blockchain sleuths at Arkham Intelligence flagged a significant transaction involving the aerospace firm, which quietly transferred 1,308 BTC, roughly $150 million, from a known wallet to a new address on Tuesday.

While there’s been no public comment from SpaceX or Elon Musk, on-chain activity suggests a shift in how the company is managing its crypto reserves.

Historic holdings and on-Chain activity

The sending address, beginning with “15oKQ,” had previously been linked to SpaceX by Arkham.

That wallet had remained dormant since June 2022, when the company last made a series of transactions totaling over 17,000 BTC, most of which ended up on Coinbase.

This week’s movement, to a new “bc1q” address, is the first recorded since that period. SpaceX’s current Bitcoin balance, according to Arkham, stands at approximately 6,977 BTC, worth around $825 million at current prices.

This development also sheds more light on Elon Musk’s broader crypto exposure. Tesla, another Musk-led company, reportedly holds 11,509 BTC, putting its current holdings at over $1.36 billion.

Combined, Arkham estimates the two companies acquired over $2 billion in Bitcoin at an average cost basis of $32,000. That puts their unrealized gains at close to $1.5 billion, assuming neither has offloaded any major positions since.

Timing aligns with crypto's political tailwinds

The timing of SpaceX’s move has raised some eyebrows. It coincides with a broader wave of positive momentum for crypto in the U.S., including a regulatory climate that appears to be softening.

High-profile political endorsements, including pro-crypto remarks from President Donald Trump, and progress on crypto-focused legislation have fueled speculation that institutions may be preparing to double down.

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