Bitcoin News Today: SpaceX consolidates $153 million BTC holdings in SegWit wallet amid government contract scrutiny share sale plans as Bitcoin surges 21%

SpaceX has executed a significant on-chain Bitcoin transaction, consolidating $153 million in holdings into a single SegWit-compatible wallet. This marks the company’s first blockchain activity since June 2022, when it transferred over 3,500 BTC to Coinbase. The consolidation involved moving 1,308 BTC—valued at approximately $153 million—from 16 Pay-to-Public-Key-Hash addresses to a unified Pay-to-Witness-Public-Key-Hash wallet. SpaceX’s estimated Bitcoin holdings now total 8,285 BTC, worth nearly $989 million, according to bitcointreasuries.net data.

The move coincides with increased scrutiny of SpaceX’s government contracts, a critical revenue source that has historically generated over $1 billion annually since 2016 through contracts, loans, and tax incentives. The consolidation follows a publicized disagreement between Elon Musk and former U.S. President Donald Trump, alongside an ongoing government review of SpaceX’s contracts. While the company has not publicly explained the rationale, industry analysts speculate the action may align with broader financial strategies, particularly as SpaceX reportedly plans to sell $1 billion in shares, potentially valuing the company at $400 billion.

Bitcoin’s recent market performance adds context to SpaceX’s activity. The cryptocurrency has risen over 21% in the past month, trading near $119,800 at the time of the transaction. This aligns with SpaceX’s broader approach to digital assets, which includes holding $989 million in BTC and Tesla’s separate $1.37 billion in Bitcoin. The consolidation could signal efforts to optimize liquidity management and streamline digital asset operations amid regulatory and market uncertainties.

While no immediate plans to liquidate Bitcoin have been disclosed, the consolidation suggests SpaceX is preparing to leverage its crypto holdings if needed. The timing aligns with the company’s focus on securing government contracts and executing its share sale strategy. Investors are advised to monitor on-chain activity and corporate disclosures for further clarity on how SpaceX integrates Bitcoin into its financial framework. The move also reflects a growing trend among large corporations to strategically manage crypto assets in alignment with evolving regulatory landscapes.

This transaction underscores SpaceX’s strategic approach to asset diversification, particularly as it navigates political and financial challenges. The consolidation of Bitcoin holdings demonstrates a commitment to optimizing digital asset management, a practice increasingly adopted by major enterprises. Stakeholders should continue to track SpaceX’s blockchain activity for insights into its long-term crypto strategy and its role in corporate treasury management.