 
 
SpaceX, the space exploration company helmed by eccentric tech centibillionaire Elon Musk, moved more Bitcoin on Wednesday, continuing a recent series of transfers.
Data tracked by blockchain analytics firm Arkham Intelligence indicates that SpaceX transferred 281 Bitcoin, worth approximately $31 million, from Coinbase Prime custody to a new, unidentified wallet.
As of publication time, it’s unclear whether the company was switching its storage system or gearing up to sell the funds.
The latest move comes following multiple transfers this month.
On October 21, SpaceX moved 2,495 BTC, worth approximately $268.5 million, in two transactions — its first tracked transfers since late July. While the company did not publicly disclose the purpose, analysts suggested at the time that it may have been part of its wallet reorganization, as some of its past transfers were later identified as SpaceX’s interactions with a Coinbase Prime custody address.
 
On Oct. 24, SpaceX then transferred another 1,561 BTC ($171.9 million) over two transactions. Some pundits have pointed to increasing concerns over quantum computing and its potential threat to early Bitcoin addresses, which could explain SpaceX’s BTC transfers from legacy Bitcoin addresses to more modern formats.
The first recorded outbound transfer since June 10, 2022, was in July 2025, when SpaceX moved 3,505 BTC (worth some $102 million at the time) to Coinbase.
Assuming the company hasn’t liquidated any Bitcoin yet, SpaceX holds 8,285 BTC — $890 million worth — making it the fourth largest corporate Bitcoin treasury, according to data from Bitcointreasuries.net.
Tesla, another company owned by Musk, maintains a 11,509 BTC stash valued at over $1.23 billion, ranking it the 11th largest corporate Bitcoin holder.
Bitcoin was changing hands at $107,309 as of press time, representing a 3.9% decline on the day, according to crypto data provider CoinGecko.