Elon Musk’s SpaceX moved $133 million worth of Bitcoin. The company transferred a total of 1,215 BTC to two separate new wallets. The move follows other recent on-chain activity after three years of stagnation.
Elon Musk’s space exploration company SpaceX traded over $133 million Bitcoin prices on Friday, according to blockchain analysis firm Arkham Intelligence.
This large-scale on-chain transfer is the latest in a series of recent moves by the company following a period of over three years of wallet inactivity.
The transaction has sparked fresh speculation in the market, but it is not immediately clear why the funds were transferred or whether the company intends to sell part of its large Bitcoin holdings.
Large-scale on-chain transfers to unlabeled wallets
Arkham Intelligence is SpaceX’s total 1,215 Bitcoin They will be sent to your new wallet in two separate transactions. “SpaceX just transferred a total of $133.7 million in funding.” Posted by an analytics company.
They transferred 300 BTC ($33 million) and 915 BTC ($107 million) to the new wallet.
The move comes just days after the company transferred the same amount of Bitcoin between addresses it controlled.
Arkham noted that unlike previous transfers, the new recipient’s wallet is not currently labeled as belonging to the Hawthorne, California-based company.
History of important Bitcoin holdings
Prior to these recent moves, SpaceX 8,285BTCworth about $914 million According to data from BitcoinTreasuries.net, it is the fourth largest private company holding Bitcoin at its current price.
The company’s on-chain history shows that its holdings were once much larger.
In 2022, addresses labeled as belonging to the aerospace company held as much as 25,000 BTC, but that number dropped to its current level of 8,285 BTC in June of the same year.
Following these moves, SpaceX did not register any further on-chain activity until earlier this year when it began consolidating some of its Bitcoin holdings.
Tesla’s unique Bitcoin connection
Musk’s other company, the electric car and robotics company Tesla, also maintains strong ties to Bitcoin.
The company currently owns: 11,509BTCworth more than $1.27 billionIt ranks just outside the top 10 publicly traded companies that hold Bitcoin government bonds.
Earlier this year, Tesla revalued its Bitcoin holdings under new accounting rules, which allowed it to post more than $600 million in quarterly profits as Bitcoin prices rose after President Donald Trump’s election.
As of Friday, Bitcoin prices were trading in dollars, down slightly on the day.110,541.
SpaceX representatives did not immediately respond to a request for comment on the purpose of the move.
