TLDR
- SpaceX transferred 1,163 Bitcoin valued at around $105 million to a new Coinbase Prime-linked wallet.
- The transfer took place on November 27 during early Asian trading hours.
- Blockchain data shows the transaction is likely for custody purposes rather than a sale.
- SpaceX’s Bitcoin holdings have now decreased to 6,095 BTC, according to BitcoinTreasuries.
- The company previously held up to 25,000 Bitcoin before gradually reducing its on-chain assets.
SpaceX has moved 1,163 Bitcoin, worth about $105 million, to a new wallet tied to Coinbase Prime on November 27. The transaction occurred during early Asian hours and has reduced the company’s total Bitcoin holdings to 6,095 BTC. Blockchain data from Arkham Intelligence confirmed the transfer and flagged it as a custody change rather than a sale.
The company previously held 25,000 Bitcoin in 2022 before gradually reducing its on-chain assets to current levels. SpaceX had not made any wallet moves in three years until activity resumed in July 2025, according to blockchain records. The firm has not provided any public statement regarding the purpose or intent of these recent crypto movements.
Data shows both the sender and recipient wallets have not engaged in any selling or outgoing activity since the transfer. Analysts from Arkham suggested this move reflects internal wallet restructuring or updated custody arrangements. There are no signs of liquidation or exchange interaction recorded for the receiving wallet.
SpaceX Shifts Bitcoin in Custody Move
SpaceX’s Bitcoin wallet had remained dormant since 2022 until renewed movement was recorded earlier this year. In July 2025, the company resumed on-chain activity, which has continued with structured wallet transfers through October and November. The latest November 27 transfer followed a similar move in October involving 1,215 BTC.
Both transactions were conducted without public comment from the company, leaving their exact motive unconfirmed. However, industry observers interpret them as procedural rather than liquidation-based, according to multiple blockchain reports. Arkham Intelligence said,
“We see no sales, only reallocation to new custody wallets, likely for compliance or security.”
SpaceX’s current Bitcoin total of 6,095 BTC places it fourth among private companies tracked by BitcoinTreasuries. The ranking considers only on-chain wallets publicly attributed to firms and verified by blockchain analysis. SpaceX’s holdings have decreased over time but remain among the largest privately held Bitcoin reserves.
Elon Musk companies maintain Bitcoin exposure
Tesla, another company under Elon Musk’s control, holds 11,509 Bitcoin according to BitcoinTreasuries data. That total places Tesla 11th among public companies with disclosed and verifiable Bitcoin on-chain holdings. Unlike SpaceX, Tesla has made fewer recent transfers and has maintained stable Bitcoin reserves in 2025.
Both companies reflect different crypto custody strategies, with SpaceX showing recent wallet restructuring actions. Tesla’s wallet activity remains limited, suggesting a long-term holding approach rather than operational movements. BitcoinTreasuries continues to track wallet activity across private and public firms using blockchain analytics.
The Bitcoin market has recently recovered from a dip earlier in the month, aligning with broader crypto market gains. At the time of the SpaceX transaction, Bitcoin rose by 5.27% within 24 hours, boosting market sentiment. The transfer occurred during that uptick, though data shows no direct link between the move and price action.
SpaceX’s 1,163 Bitcoin transfer was valued at $105 million during the move based on prevailing market prices. Arkham data shows Coinbase Prime received the transfer, supporting analyst views that it is a custody reshuffle. There have been no other outgoing transactions from that address at the time of reporting.
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