Elon Musk’s SpaceX just gave Bitcoin wallets a little spin, moving $133 million worth of Bitcoin around.
No fanfare, no press release, just blockchain acrobatics. According to Arkham Intelligence, a sleuthy blockchain analytics firm, this transfer involved shifting 1,215 Bitcoin into fresh, unlabelled wallets.
That’s like quietly swapping briefcases in a smoky room, but with digital gold instead of cash.
XPrivate Bitcoin holders
Before this crypto shuffle, SpaceX was sitting on about 8,285 BTC, roughly $914 million at today’s prices, making it one of the heftiest private Bitcoin holders on the planet.
At its peak back in 2022, SpaceX was hoarding as many as 25,000 BTC, before deciding to trim the fat and consolidate its digital stash.
This latest move is just the latest ripple in their on-chain activity, which had been eerily silent since 2021, until earlier this year when tiny waves began surfacing again.
Crypto security
Why the cloak-and-dagger move now? No official word from SpaceX. Could be a sale, could be shuffling assets for internal reasons, or maybe they’re just upping their crypto security game.
Either way, this isn’t SpaceX’s first rodeo with Bitcoin, Elon Musk revealed their Bitcoin ties back in 2021, right after Tesla’s famous $1.5 billion Bitcoin dive that shook up crypto markets.
Speaking of Tesla, Musk’s other baby, it’s still clutching a cool 11,509 BTC, worth over $1.27 billion, ranking just shy of the top 10 publicly traded firms holding Bitcoin.
Tesla took some profit-chopping earlier this year, pocketing over $600 million in a quarterly statement thanks to some smart accounting tricks.
Sold or held?
SpaceX once took a $373 million Bitcoin write-down during 2021 and 2022, and might have sold much of their stash.
A Wall Street Journal report shared that there is a big pile of Bitcoin on the balance sheet but left the “sold or held” question dangling in space.
So, we watch. Elon’s cosmic empire moves its Bitcoin like an interstellar chess master, and the crypto world holds its breath.
Wallets unlabeled, mystery intact. Who knows what’s next? Rocket fuel for Bitcoin speculation, that’s for sure.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
