Bitcoin News Today: SpaceX's Bitcoin Shift Mirrors Corporate Treasury Strategy Trend

SpaceX Shifts $134 Million Bitcoin to New Wallets Amid Strategy Shift

Elon Musk's aerospace company, SpaceX, has moved $134 million in Bitcoin to new wallet addresses, marking its second major Bitcoin transaction in under a week and signaling a potential reorganization of its cryptocurrency holdings, according to Blockonomi. The transfer, which included 300 BTC ($33 million) and 915 BTC ($100.7 million), follows a $268.5 million Bitcoin shift on October 21, where 2,495 BTC was distributed to two unlabeled wallets, according to Zycrypto. Analysts suggest the moves are part of internal treasury management rather than a sale, with no outgoing transactions observed from the receiving addresses, according to Coinotag.

The October 21 transfer, SpaceX's first significant Bitcoin activity since July 2025, saw the company move 2,495 BTC—valued at $268.5 million—to two new addresses, Zycrypto reported. Blockchain analytics firm Arkham Intelligence noted that this aligns with a pattern of custodial reorganization, similar to a July 2025 transfer of 1,308 BTC ($153 million) that was later linked to Coinbase Prime Custody, the Coinotag piece observed. Current on-chain data shows SpaceX holds approximately 6,970 BTC, worth around $770 million, per Blockonomi, a fraction of its peak holdings of 28,000 BTC in April 2021, according to CryptoNews.

The recent activity has reignited speculation about SpaceX's long-term Bitcoin strategy. While the company has not publicly commented on the moves, on-chain data suggests it is optimizing custody arrangements or consolidating older wallets into newer, more secure ones, Coinotag reported. This aligns with broader corporate trends, as companies like MicroStrategy and Tesla treat Bitcoin as a strategic reserve asset, according to Coinotag analysis. Tesla, another Musk-owned firm, currently holds 11,509 BTC ($1.24 billion), though it sold 75% of its initial holdings in 2022, as CryptoNews noted.

The transfers also highlight the growing influence of corporate Bitcoin holdings on market dynamics. SpaceX's actions follow a pattern seen in other major holders, such as Marathon Digital and MicroStrategy, which have restructured their Bitcoin reserves to enhance security and liquidity, as reported by Cryptopolitan. Analysts note that SpaceX's continued Bitcoin activity contrasts with its earlier decision to write down $373 million in crypto losses during the 2021-2022 market downturn, a point raised by Cryptopolitan.

While the exact rationale for SpaceX's moves remains unclear, the lack of sales activity and the focus on internal transfers suggest a long-term strategic approach. On-chain tracking platforms like Arkham and Bitcointreasuries.net indicate that SpaceX's Bitcoin holdings are likely being reallocated to improve operational efficiency or comply with evolving regulatory requirements, Coinotag reported.

As the crypto market watches for further developments, the significance of SpaceX's Bitcoin activity extends beyond the company itself. It reflects a broader trend of institutional adoption, where corporations are increasingly treating Bitcoin as a legitimate asset class alongside traditional investments, the Coinotag analysis noted. For now, the focus remains on whether these transfers will trigger broader market movements or simply underscore SpaceX's commitment to a diversified treasury strategy.

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