SpaceX Moves $31 Million in Bitcoin in Third Transfer of the Month

SpaceX recently moved 281 Bitcoin (BTC), worth about $31.28 million, to a new wallet. This is the company’s third major transfer in under two weeks, drawing attention from analysts. While the reasons behind these transfers are not confirmed, they indicate active management of the company’s digital holdings.

Does SpaceX Have a New Strategy?

Blockchain analytics company Lookonchain reported that 281 BTC were recently moved to a new address. This comes after SpaceX’s earlier large transfer of 2,495 BTC (around $257 million) on October 21, 2025, as tracked by Arkham Intelligence. Together, these transactions indicate that the company may be actively reorganizing its crypto holdings.

The frequency of these transfers has led to speculation that SpaceX could be updating its internal custody procedures rather than merely moving funds for security. Analysts suggest these actions might point to wider strategic plans, including changes to treasury management or potential partial sales.

Although SpaceX has not commented publicly, online discussions have been active. One user said, "3 transfers in 10 days isn’t custody. It’s positioning before a major policy shift." The speculation is further fueled by the fact that SpaceX currently holds 7,258 BTC, valued at roughly $790.95 million.

Comparing Tesla and SpaceX Holdings

Along with SpaceX, Tesla holds a large Bitcoin portfolio of 11,509 BTC, worth about $1.25 billion. Together, the two companies hold digital assets worth approximately $2.04 billion. Even with some market fluctuations, these holdings remain among the largest institutional Bitcoin reserves worldwide.

Both companies have seen reductions in their portfolios due to natural crypto volatility. Still, these changes reflect a long-term approach rather than short-term trading. Analysts suggest that firms of this scale prioritize structural positioning, security, and staking over daily price movements.

This situation also illustrates the increasing role of corporate treasuries in the crypto sector. As more major companies invest in digital assets, institutions have a bigger impact on market behavior and liquidity.

Musk Reaffirms Bitcoin Commitment

Recent transfers follow Elon Musk’s public reaffirmation of his support for Bitcoin over traditional fiat currency. He highlighted Bitcoin’s energy-based model as offering greater resilience and predictability compared with government-issued money. His views have clearly shaped market sentiment, especially among investors who pay close attention to his remarks.

The activity from Tesla and SpaceX shows these companies are more than passive holders. Their frequent transfers, wallet adjustments, and public endorsements suggest that Musk and his teams are actively managing their positions in the growing digital asset market.

Implications for the Market

SpaceX’s ongoing Bitcoin transfers provide insight into how corporations handle large crypto holdings. Beyond basic security, these moves may reflect strategic goals or signal potential market activity. While the exact motives are unknown, the combination of SpaceX’s actions and Tesla’s significant holdings highlights the growing role of companies in the crypto sector.