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Elon Musk's SpaceX Moves 2,495 Bitcoins Worth$268 million

Elon Musk's SpaceX Bitcoin

Elon Musk's space technology company SpaceX moved bitcoin for the first time in three months on October 21, 2025.

As quoted from the Street on Tuesday (21/10), according to On-chain Analysis platform Arkham Intelligence, a crypto wallet connected to SpaceX transferred 2,495 bitcoins worth about US$268.5 million in the first on-chain transaction since July 24, 2025.

Elon Musk's SpaceX Bitcoin

The company moved bitcoins to two unmarked addresses on the same day.

The Transfer is carried out in two stages:

- First stage 1.298 BTC

- Second stage 1.197 BTC

To date, the two addresses have not made any further Bitcoin transfers. Prior to this major transfer, SpaceX first conducted two small test transactions worth $150 and $177 from Coinbase Prime.

"This is probably just a purge of the wallet," wrote one analyst.

SpaceX began accumulating Bitcoin in 2021, but has already sold almost 70% of its holdings during the Terra-Luna crisis and the fall of FTX in 2022.

Although large transfers like this usually trigger panic in the market, this time it did not have a significant impact on the price. Currently, the company holds about 8,285 BTC worth about US$1.1 billion.

Elon Musk's SpaceX Bitcoin

Musk recently praised Bitcoin, a cryptocurrency that is “created through energy”, and compared it to fiat currencies that he called “fake”. Governments can print "fake" money, but they cannot fake energy.

Earlier, when Musk was planning the creation of a new political party as a criticism of the two-party system in the US, he confirmed that the party would support bitcoin.

On October 7, bitcoin hit a new record high (ATH) of $126,198.07. However, the recent US–China trade tensions are putting pressure on the crypto market.

According to price data from Kraken, bitcoin is trading in the range of US$108,575.63 as of Tuesday (21/10) yesterday.

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