For the first time in three years, SpaceX has made a significant move involving its Bitcoin reserves. Blockchain analytics firm Arkham Intelligence recently detected the transfer of 1,308 BTC — valued around $153 million — from addresses associated with the company.
The funds were withdrawn from 16 traditional Pay-to-Public-Key-Hash (P2PKH) Bitcoin addresses and consolidated into a single modern SegWit Pay-to-Witness-Public-Key-Hash (P2WPKH) wallet. This move is seen as a strategic effort to streamline fund management and potentially lower future transaction fees.
The reason behind the transfer remains undisclosed, but the structured nature of the operation indicates a calculated adjustment rather than an emergency reaction.
Founded by Elon Musk in 2002, SpaceX first acknowledged owning Bitcoin in July 2021 — the same period Tesla revealed its own crypto purchases. These acquisitions reflected Musk’s broader approach to diversifying corporate assets while signaling support for the crypto sector.
Neither Elon Musk nor SpaceX has publicly commented on this latest BTC activity.
Political Strain Mounts as Pentagon Considers Alternatives to SpaceX
The timing of the Bitcoin reshuffling comes amid heightened political tensions between SpaceX and the U.S. government.
Earlier this summer, President Donald Trump’s administration reportedly considered reevaluating or terminating nearly $22 billion in SpaceX contracts due to ongoing disputes between Musk and Trump, as seen on the social platform X. Although many of these contracts were deemed essential to national interests and likely to remain intact, the incident highlighted growing friction.
In a move that further complicates the landscape, the Pentagon has announced plans to open the Golden Dome missile defense project to additional providers. The $175 billion initiative, which involves deploying a satellite-based system to detect threats from space, has so far relied heavily on SpaceX. Officials are now exploring other vendors to prevent dependency on a single contractor, according to Reuters.
From Bitcoin Buys to Stablecoin Workarounds
Musk’s connection to cryptocurrency has taken many turns since the 2021 bull market. From his infamous Dogecoin tweets to Tesla’s $1.5 billion Bitcoin purchase (and quick retreat from BTC payments), his actions have frequently moved the markets.
In 2022, after acquiring Twitter and rebranding it to X, Musk began pushing toward a broader financial ecosystem — including acquiring money transfer licenses and developing crypto wallet infrastructure, although no public crypto features have launched yet.
Meanwhile, venture capitalist Chamath Palihapitiya revealed in a 2024 interview that SpaceX accepts stablecoins for Starlink subscriptions in certain developing countries, avoiding complications tied to traditional banking systems. “They swap into stablecoins because they don’t want to mess with wire transfers,” he explained.
At present, SpaceX is believed to hold roughly 6,977 BTC, an amount valued near $815 million, quietly placing the company among the top corporate Bitcoin holders globally.
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