SpaceX has quietly moved a sizeable chunk of its Bitcoin stash, transferring 1,163 BTC — worth around $105 million — to a new wallet linked with Coinbase Prime, blockchain data shows. The transaction, picked up on Nov. 27 by analytics platform Arkham Intelligence, appears to be part of a broader reshuffling of the company’s crypto holdings rather than a move to offload assets.
This isn’t the first time SpaceX has shuffled coins recently. In October, the aerospace giant transferred 1,215 BTC to newly created wallets, ending years of silence from its on-chain storage. Before this sudden activity, SpaceX’s Bitcoin wallet had been frozen in time — untouched for roughly three years until late July 2025.
With the latest move, SpaceX’s publicly visible holdings now stand at 6,095 BTC, according to BitcoinTreasuries data. That amount keeps the company among the largest private Bitcoin holders globally. However, the figure is a far cry from its peak of roughly 25,000 BTC in 2022, a position that reflected a much deeper exposure to the crypto market.
So, what triggered the sudden activity? Analysts say it’s likely nothing dramatic. Market observers are pointing to a custody transition — possibly shifting Bitcoin into more secure institutional storage — rather than a sale. The receiving wallet hasn’t shown any signs of coins being moved to trading platforms or liquidated, helping to calm speculation of a major exit.
SpaceX hasn’t commented publicly on the purpose of the transfers, leaving the crypto community to piece together the puzzle. Still, the moves come at a time when the market is looking healthier. Bitcoin has bounced back from recent declines, echoing a broader recovery across digital assets.
Meanwhile, Elon Musk’s other major company — Tesla — continues to hold 11,509 BTC, securing its spot as one of the largest public corporations with Bitcoin exposure. Musk has become a familiar figure in crypto headlines, though neither company has made significant crypto announcements in recent months.
For now, all eyes remain on SpaceX’s blockchain activity. Whether these transfers hint at bigger strategic plans or simply routine asset management, the renewed movement from one of the crypto world’s most high-profile holders is enough to keep traders alert.
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