What’s going on with SpaceX and its Bitcoin (BTC) holdings? This private company has been in the news for a while for BTC’s restructuring efforts and is back in the news for the same reason.
On-chain data suggests the company has shifted much of that.
Bitcoin
2.57%
All of this BTC shuffling business comes as the company prepares for a possible IPO in 2026.
Arkham Intelligence’s online blockchain sleuths spotted the movement early on and said the SpaceX-linked wallet sent approximately 1,021 BTC to two different addresses, split into 407 BTC and 614 BTC.
SPACEX moved $94 million $BTC
SpaceX just transferred $94 million in BTC. They have been moving around $100 million in BTC every week for the past two months.
Of these transfers, $37.66 million was sent to new addresses and $56.82 million was changed. pic.twitter.com/LVPg3037w4
— Arkham (@arkham) December 10, 2025
“SpaceX just transferred $94 million in BTC. They have been transferring about $100 million in BTC every week for the past couple of months,” Arkam posted on X.
SpaceX and Elon Musk have not yet commented on the matter.
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From 25,000 BTC to 8,285 BTC: SpaceX slims down crypto storage
Interestingly, SpaceX did not touch its BTC stash in over three years. However, earlier this year, I started moving my coins around more often. This recent BTC shuffle comes just a week after it moved around $100 million worth of BTC.
Breaking news: SPACEX moves Bitcoin for the first time in 3 years
They transferred 1.3K BTC ($153 million) to a new address this morning.
Do you want to rotate your custodial wallet or move it to sell? pic.twitter.com/bFkhkjYdho
— Arkham (@arkham) July 22, 2025
Back in 2022, SpaceX’s BTC holdings were huge. The company held 25,000 BTC but has since decreased in size, and as of December 10, 2025, SpaceX holds 8,258 BTC (worth approximately $770 million).
This makes SpaceX the 4th largest private company to hold BTC, and if it goes public, it will rank 14th among BTC holders.
SpaceX reduced its BTC holdings by about 70% after the collapse of Terra Luna and the bankruptcy of FTX rocked the broader crypto industry.
Meanwhile, Tesla, another company owned by Musk, still holds over 11,500 BTC, worth $1 billion at current prices. In total, Musk-related companies control over $1.4 billion in BTC.
(Source: Bitcoin Government Bond)
For most people, transferring money these days seems like a routine financial management task. Rather than selling assets, SpaceX is moving BTC to a new self-custodial wallet. There is also no trace of exchange deposits.
DATs like Strategy often move large chunks of BTC for custody updates, so in that respect SpaceX shuffling BTC seems perfectly normal.
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SpaceX IPO plans to dwarf Saudi Aramco’s 2019 listing
If recent rumors are to be believed, SpaceX could launch an IPO as early as mid-to-late 2026, although some insiders believe it could extend into 2027 depending on market conditions.
Bloomberg reports that the company plans to raise more than $30 billion, with a target valuation of about $1.5 trillion, which is outrageous. This number is larger than the huge $29 billion that Saudi Aramco went public with in 2019.
Now, for investors planning to get in on the action, investing in SpaceX obviously involves exposure to rockets, satellites, and the Internet side of Starlink. This will also include the company’s exposure to cryptocurrencies.
Prediction markets (currently 67%) are already pricing in the possibility of an IPO valuation exceeding $1 trillion.
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Important points
SpaceX moves a total of 1,021 BTC worth $94 million to two different wallets, sparking IPO rumors
The company’s Bitcoin holdings have shrunk from 25,000 BTC in 2022 to 8,285 BTC currently.
SpaceX aims to raise more than $30 billion in its upcoming IPO, targeting a valuation of $1.5 trillion
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