SpaceX Moves $268M in Bitcoin to Two Wallets: A Strategic Move by Elon Musk?

Key Points

• SpaceX moved over $268 million in Bitcoin to new wallets on October 21, 2025.
• This is the first time the company has transferred Bitcoin since July 2025.

SpaceX, the space technology company owned by Elon Musk and headquartered in Starbase, Texas, moved a significant amount of Bitcoin on October 21, 2025. This is the first time the company has made such a move since July.

Details of SpaceX’s Bitcoin Transfers

Onchain data reveals that SpaceX made two Bitcoin transfers on the said date. The first transfer involved 1,298 BTC, equivalent to $139.67 million, to a wallet starting with bc1qj7. The second transfer was 1,197 BTC, worth $128.8 million, to a wallet beginning with bc1qq7.

Just before these transfers, two small amounts of BTC, worth over $150 and almost $177, were moved from Coinbase Prime to the two wallets. This was likely a test transfer, according to data from Arkham.

Arkham’s data shows that the wallet bc1qj7 currently holds 1,208 BTC worth over $139 million, and wallet bc1qq7 holds 1,187 BTC worth over $128 million.

SpaceX’s Previous Bitcoin Transactions

The last time SpaceX transferred Bitcoin was in July 2025. On July 22, after a small BTC transfer worth over $29 from Coinbase Prime to the wallet 15oKQ (owned by SpaceX), the wallet transferred 1,308 BTC worth over $152.9 million to the wallet bc1q8. Before this transfer in July, SpaceX had moved over 3,000 BTC to Coinbase, as per Arkham’s data.

Bitcoin’s Market Status

As of the time of writing, Bitcoin is trading above $107,000, a decrease of more than 3% in the last 24 hours. Bitcoin’s price has been volatile, declining from $111,000 levels on October 20. This is a significant day for Bitcoin and the crypto industry, potentially redefining the market’s trajectory. The US Fed’s payment innovation conference is also scheduled for later in the day.