SpaceX Reported to Move 1,163 BTC in Its Largest Bitcoin Transfer Since October

SpaceX moved 1,163 BTC worth over $105M to new wallets in its largest transfer since October.

Analysts see no exchange-linked addresses, suggesting the move may be internal consolidation.

SpaceX holds about 6,095 BTC, while Musk-linked firms remain active as Bitcoin trades near yearly highs.

SpaceX has moved 1,163 BTC, worth about $105.23 million, to new wallet addresses in a large transfer recorded on Wednesday. Arkham Intelligence tracked the movement, which took place at 6:16 p.m., and the event drew fresh attention from onchain analysts.

SpaceX Sends BTC to New Wallets in Major Transfer

Arkham’s data shows that SpaceX sent 399 BTC to the wallet labeled “bc1qh…galzy,” and 764 BTC to the wallet “bc1q4…u54ez.” These wallets are not tied to known exchanges or custodians, and the structure has caused analysts to watch for consolidation patterns. The transfer is the company’s largest onchain action since October 29.

SpaceX last moved 281 BTC in October and that transfer also went to a new wallet. No public statement has been made to explain the reason for the new activity. Some observers believe the firm may be reorganizing its internal BTC setup.

Arkham estimates that SpaceX now controls about 6,095 BTC, valued at around $552.9 million at current market prices. Bitcoin traded at $90,921 at 9 p.m. on Wednesday, with a 3.14% gain over the day.

Analysts Study Possible Consolidation Strategy

Market watchers noted that no exchange deposit address was involved, which reduces the chance of an immediate sale. Large firms often shift assets to update wallet structures, and this is common when older addresses are replaced. Arkham’s data shows that SpaceX’s holdings remain grouped in a small number of wallets.

SpaceX cut its BTC exposure by about 70% in mid-2022, during a period of market stress after major collapses. Arkham’s data suggests that the company has not bought more BTC since that reduction. Yet its remaining holdings now carry higher value due to the market recovery.

Tesla took a similar approach in 2022 and now holds 11,509 BTC, valued at about $1.05 billion. The ongoing activity by Musk-linked firms continues to draw market attention as bitcoin trades near yearly highs.

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