SpaceX moves $94M in Bitcoin as weekly transfer pattern continues

SpaceX recently transferred $94 million worth of Bitcoin, according to on-chain intelligence firm Arkham. 

The move adds to a weekly pattern of large BTC transactions by the aerospace company, which has shifted roughly $100 million every week for nearly two months.

$94M Bitcoin transfer, new wallet activity

Arkham reported that $37.66 million was sent to a new address, while $56.82 million appeared as change—suggesting internal reallocation rather than an external sale. 

Source: Arkham

Activity involving new wallets typically indicates adjustments in custody structure, treasury controls, or multi-signature reconfiguration rather than immediate market exits.

SpaceX holds nearly $370M in BTC

Arkham’s latest dashboard shows SpaceX holding around 3,991 BTC, valued at roughly $369 million. The company remains one of the largest corporate holders of Bitcoin outside of ETFs and public mining firms.

This comes after SpaceX quietly confirmed Bitcoin holdings in previous financial disclosures. However, the company has never publicly detailed its treasury strategy.

Musk-linked companies remain major Bitcoin treasuries

Tesla, another company led by Elon Musk, continues to hold more than 11,500 BTC, worth over $1 billion at current prices, making Musk-linked entities collectively responsible for more than $1.4 billion in allocated Bitcoin holdings.

While Tesla reduced part of its position in 2022, the company remains one of the most significant corporate holders, and SpaceX’s continued transfers signal ongoing exposure across Musk’s corporate ecosystem.

According to data from Bitcoin Treasuries, Tesla is currently the 12th-largest corporate holder of Bitcoin, with Strategy maintaining its position as the largest.

Internal restructuring rather than liquidation

Because the majority of the movement reflects “change” output and a new self-custody address, the latest flows appear to reflect treasury structuring rather than liquidation. There is no evidence so far of exchange deposits or sell-side pressure.

Institutional entities such as Strategy, mining companies, and corporate treasuries routinely relocate large BTC amounts to new or updated custody arrangements over time.

Why this matters

SpaceX’s repeated weekly transfers come at a time when institutional interest continues to drive Bitcoin’s market structure—particularly as ETFs hold record levels of BTC and regulated collateral rules expand.

Large, recurring treasury activity from a major private corporation reinforces the growing corporate role in Bitcoin ownership, even as market volatility remains elevated.

Final thoughts

• SpaceX’s latest transfer highlights one of the clearest examples of private corporate BTC treasury management at scale. 
• While the intent behind the weekly movements remains undisclosed, the pattern reflects continued Bitcoin exposure rather than exit activity.