Elon Musk’s SpaceX Moves $150M in Bitcoin

SpaceX has moved 1,308 BTC—worth roughly $150 million—to a new wallet address, marking its first on-chain activity in more than three years.

The data, shared by Arkham Intelligence, shows this is SpaceX’s first crypto transaction since June 10, 2022. Back then, the aerospace firm was active in transferring Bitcoin, sending over 17,000 BTC to Coinbase between late May and early June of that year. Following this latest move, SpaceX is still holding 6,977 BTC, valued at around $825 million.

Tesla’s Crypto Journey and Bitcoin Reversal

Tesla, Elon Musk’s electric vehicle company, has also been a significant player in the crypto market. In early 2021, Tesla made headlines by purchasing $1.5 billion worth of Bitcoin and briefly accepting BTC as payment for its cars. However, this decision was reversed shortly after, with Musk citing environmental concerns tied to Bitcoin’s energy usage. Despite the policy change, Tesla continues to hold 11,509 BTC on its balance sheet, worth over $1.36 billion as of this week.

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Dogecoin Advocacy Remains Strong

While Tesla and SpaceX scaled back their direct crypto activities, Elon Musk’s personal endorsement of Dogecoin has not wavered. He regularly posts about the meme-inspired cryptocurrency, driving both price action and community sentiment. Tesla even allows DOGE payments for certain merchandise. Musk has also suggested integrating Dogecoin into other ventures like X (formerly Twitter), hinting at broader adoption in the future.

This week’s move by SpaceX has reignited speculation about whether Musk is preparing for a renewed crypto push across his businesses—or simply optimizing internal funds. Either way, the transaction reopens the conversation about his ongoing role in shaping institutional crypto trends.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.