SpaceX recently transferred $94 million worth of Bitcoin, according to on-chain intelligence firm Arkham.
This move adds to a weekly pattern of large BTC transactions by the aerospace company, which has moved around $100 million every week for almost two months.
Bitcoin transfer of $94 million, new wallet activity
Arkham reported that $37.66 million was sent to a new address, while $56.82 million appeared as change, indicating an internal redistribution rather than an external sale.
Source: Arkham
Activity involving new portfolios typically indicates changes in custody structure, treasury controls, or multi-signature reconfiguration, rather than immediate market exits.
SpaceX owns nearly $370 million in BTC
Arkham’s latest dashboard shows that SpaceX holds approximately 3,991 BTC, worth approximately $369 million. The company remains one of the largest corporate holders of Bitcoin, outside of ETFs and public mining companies.
This comes after SpaceX quietly confirmed Bitcoin ownership in previous financial disclosures. However, the company has never publicly outlined its treasury strategy.
Musk-linked companies remain major Bitcoin treasuries
Teslaanother company led by Elon Musk, still owns more than 11,500 BTC, worth more than $1 billion at current prices, making Musk-linked entities collectively responsible for more than $1.4 billion in allocated Bitcoin holdings.
Although Tesla pared back some of its position in 2022, the company remains one of the top business owners, and SpaceX’s continued transfers indicate continued exposure to Musk’s business ecosystem.
According to data from Bitcoin treasuriesTesla is currently the twelfth largest corporate holder of Bitcoin, with Strategy maintaining its position as the largest.
Internal restructuring instead of liquidation
Since most of the movement reflects the output of “change” and a new address for self-preservation, the latest flows appear to reflect the structuring of state finances rather than liquidation. There is no evidence of currency deposits or sell-side pressure so far.
Institutional entities such as Strategy, mining companies, and government bonds routinely move large amounts of BTC to new or updated custodial agreements over time.
Why this matters
SpaceX’s repeated weekly transfers come at a time when institutional interest continues to drive Bitcoin’s market structure — especially as ETFs hold record levels of BTC and regulated collateral rules expand.
Large, recurring treasury operations from a major private company are reinforcing the growing role of corporations in owning Bitcoin, even as market volatility remains high.
Final thoughts
- SpaceX’s latest transfer highlights one of the clearest examples of private BTC treasury management at scale.
- While the intent behind the weekly moves is not made public, the pattern reflects continued exposure to Bitcoin rather than exit activity.