Elon Musk’s SpaceX has moved 1,163 Bitcoin to a new wallet on Thursday, worth $105 million, signalling a possible custody strategy.
The move occurred in the early Asian hours, which is believed to have been transferred to Coinbase Prime for custody.
Per Arkham data, the transfer comes a month after the space exploration company sent massive amounts of Bitcoin to a new address in October. The transactions involved 1,215 BTC sent to multiple new addresses, totalling $133.7 million.
SpaceX’s wallet now holds a total of 6,095 Bitcoin worth almost $553 million, post the recent transfer. According to BitcoinTreasuries, SpaceX is placed fourth among privately held companies with Bitcoin treasuries.
SpaceX BTC Flow – Custody Rather Than Selling
The SpaceX wallet was dormant for 3 years before resuming activity in late July 2025. The company once held as much as 25,000 BTC in 2022, but later consolidated and reduced its on-chain balance to current levels.
The reason for the latest transfers remains unclear. The company has not made any comments on whether the transfer indicates a sale, internal restructuring, or enhanced security measures for its crypto holdings.
However, analysts believe that the shuffle signals improved custody plans, rather than for liquidation purposes.
One user wrote that big transfers from companies like SpaceX denote they’re “positioning” for something. “Could be routine custody, but it still adds a layer of uncertainty you don’t want to ignore,” the user wrote on X.
Further, the only certainty so far is that both receiving wallets remain untouched, no outgoing transfers, no exchange interaction, and no liquidation trails.
“When institutions like SpaceX move Bitcoin, they don’t do it impulsively,” wrote another user. “The market may need time to understand the purpose, but the signal is already there. Quiet transfers sometimes speak louder than announcements.”
Meanwhile, another Elon Musk-owned firm Tesla, maintains significant Bitcoin exposure. It currently holds 11,509 BTC, worth $1.05 billion, placing it in the 11th position among publicly traded firms holding Bitcoin.
Bitcoin Pushes Above $90K, Rallies Over 4% in a Day
Bitcoin surged 4.35% over the last 24h, rebounding from a 19.76% monthly drop. This aligns with a 3.35% crypto market gain.
Bitcoin bounced from the $86k “support box” noted by analyst Lennaert Snyder. The 24-hour rally faces resistance at $89k – a level Bitcoin must reclaim to target $93k. The largest crypto is trading at $91,230 at press time, per CoinMarketCap data.
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