SpaceX, the aerospace company founded by Elon Musk, executed a significant $268.5 million Bitcoin (BTC) transfer on Tuesday, marking the first known movement of its crypto assets since July 24.
According to data from Arkham Intelligence, the transfer involved 2,495 BTC, which was moved to several new, currently untagged wallet addresses. Crucially, the BTC has not been sold or moved from these new addresses yet.
This movement represents the first major change to SpaceX’s total Bitcoin holdings—which had consistently remained at approximately 8,285 BTC—since June 2022.
The company has not publicly stated the reason for the transfer. However, some analysts suggest it may be a wallet reorganization, similar to past SpaceX transfers that were later identified as interactions with a custody address on Coinbase Prime.
It is worth noting that SpaceX dramatically reduced its crypto holdings by about 70% in mid-2022, a period marked by major market turbulence following the Terra-Luna and FTX collapses. The company has not bought more Bitcoin since that time.
In related news, Tesla, also led by Musk, sold off a large portion of its BTC holdings in 2022 but still retains a significant reserve of 11,509 BTC, currently valued at about $1.24 billion.
October 2025, Cryptoniteuae
