Bitcoin News Today: SpaceX Moves 1308 BTC 153M After Three-Year On-Chain Dormancy

Elon Musk’s SpaceX has moved 1,308 Bitcoin (BTC) valued at $153 million to a new SegWit-compatible wallet address, marking its first on-chain Bitcoin activity in over three years. The transaction, confirmed by blockchain analytics firm Arkham Intelligence, occurred on July 22, 2025, and involved the consolidation of funds from 16 separate P2PKH addresses into a single P2WPKH address [1]. This action follows a period of dormancy for SpaceX’s Bitcoin holdings, with the last recorded outbound transfer taking place in June 2022 when the company moved 3,505 BTC to Coinbase. Analysts suggest the recent move aligns with institutional practices to streamline operations and reduce transaction costs, though SpaceX has not publicly clarified the rationale [1].

The destination address, identified as “bc1q8…phartf,” is not linked to major exchanges like Coinbase, which was the recipient of the 2022 transfer. This has led observers to question whether the move signals a potential sell-off or routine custody management. Unlike the 2022 transfer, which was widely interpreted as a precursor to liquidation, the new address has remained inactive as of July 27, 2025, with no additional transactions recorded. This inactivity supports the hypothesis that the transfer was motivated by internal security or custody protocols rather than market-driven decisions [2].

SpaceX’s Bitcoin holdings currently stand at approximately 6,977 BTC ($827 million), making it one of the largest institutional holders globally. Tesla, another Musk-led entity, maintains a separate reserve of 11,509 BTC ($1.37 billion), which has remained stationary for nine months. Both companies have held Bitcoin since 2021, when Tesla’s initial investment and experimental acceptance of BTC as payment drew widespread attention. While Tesla’s strategy has leaned toward long-term holding, SpaceX’s recent activity suggests a potential shift in approach, though no concrete plans for asset utilization have been disclosed [3].

Musk’s public statements on Bitcoin have grown increasingly bullish. In July 2025, he declared support for Bitcoin through his America Party, criticizing fiat currency as “hopeless” amid the expansion of federal spending under the “Big Beautiful Bill.” His endorsement of a post speculating about accumulating more Bitcoin further underscored his confidence in the asset as a hedge against inflation. Blockchain maximalist Max Keiser noted that Musk’s alignment with Bitcoin could intensify, potentially influencing institutional adoption trends [4].

The transfer has sparked broader discussions about Bitcoin’s role in corporate treasury strategies. Institutional investors and corporations are increasingly adopting on-chain transparency for asset management, with SpaceX’s move reflecting a growing trend of integrating digital assets into financial operations. While the lack of immediate market reaction to the transfer—such as price volatility or sell signals—suggests no short-term liquidity plans, the transaction underscores Bitcoin’s evolving status as a strategic reserve asset [5].

SpaceX’s reentry into public Bitcoin activity, though brief, highlights the intersection of technological innovation and financial strategy. As the crypto market navigates regulatory and macroeconomic uncertainties, such moves by high-profile entities could reinforce Bitcoin’s credibility as an alternative to traditional reserves. However, without explicit statements from SpaceX or Musk, interpretations remain speculative, emphasizing the need for further on-chain activity to gauge the company’s long-term intentions.

Source:

[1] [Spacex Moves $153M BTC After Three-Year Silence](https://cointelegraph.com/news/spacex-moves-153m-bitcoin-three-year-silence)

[2] [SpaceX Moves $153 Million In Bitcoin After Years Of Silence](https://bitcoinist.com/spacex-moves-153-million-in-bitcoin/)

[3] [SpaceX Moves 1308 Bitcoin After Long Silence](https://coinpaper.com/10115/space-x-moves-1-308-bitcoin-after-long-silence)

[4] [SpaceX moved 1308 BTC after three years inactivity](https://www.mitrade.com/au/insights/news/live-news/article-3-976761-20250722)

[5] [After 3 Years of Silence, SpaceX Moves $153M in $BTC](https://www.binance.com/en/square/post/27279160856802)