SpaceX transfers 1,163 BTC: What's behind it?

SpaceX transfers 1,163 BTC: What's behind it?

On November 27, 2025, SpaceX transferred 1,163 Bitcoin (BTC) worth approximately $105 million to a new wallet. This transfer suggests that the company may be using Coinbase Prime for cryptocurrency custody. SpaceX had previously transferred 1,215 BTC to several new addresses in October 2025. With this latest move, the SpaceX wallet now holds 6,095 BTC, a significant decrease compared to a peak of around 25,000 BTC in 2022.

SpaceX wallet activity was inactive for over three years before it was revived at the end of July 2025. Analysts interpret the latest transactions less as a liquidation and more as a reorganization of custody. The two receiving wallets that received the BTC show no outgoing transfers, interactions with exchanges, or liquidation activity.

Role of Tesla and Bitcoin market development

Interestingly, Tesla, another company led by Elon Musk, also holds 11,509 BTC, putting Tesla in 11th place among listed companies with Bitcoin holdings. These Bitcoin holdings are particularly relevant as there has been a recent increase in the price of Bitcoin after previously declining in value on a monthly basis. The general market development shows that cryptocurrencies are back on a positive trend.

Overall, SpaceX appears to be taking an increasingly proactive role in the crypto space with recent transactions. Such moves could be important in terms of future market strategy for both SpaceX and Tesla. The Bitcoin community is closely monitoring these developments as the overall digital currency landscape continues to transform.

For more information, see the article Crypto News available.