Elon Musk's SpaceX Moves $150 Million in Bitcoin After 3 Year Pause

On Tuesday, July 22, 2025, SpaceX, the aerospace giant founded by Elon Musk, executed its first cryptocurrency transaction in over three years, transferring 1,308 Bitcoin (BTC), valued at approximately $150 million, to a new wallet address. The move, tracked by blockchain analytics firm Arkham Intelligence, has sparked speculation about the company’s intentions, especially amid growing mainstream adoption of Bitcoin and Musk’s recent pro-crypto political endeavors. The transaction marks a notable shift for SpaceX, which has been relatively quiet in the crypto space since its last major transfers in 2022.

According to Arkham Intelligence, the SpaceX-linked wallet address “15oKQ…7Jf1G” moved the funds to a new address, “bc1q8…hartf.” This transfer is the company’s first crypto activity since June 10, 2022, when SpaceX sent multiple batches of roughly 1,200 BTC to crypto exchange Coinbase. Between May 25 and June 10, 2022, the company transferred a total of 17,314 BTC to Coinbase, liquidating a significant portion of its holdings. SpaceX did not publicly disclose the purpose of Tuesday’s transaction, leaving analysts and investors to speculate on whether it signals a strategic repositioning of its crypto assets.

Context and Market Implications

Following the latest transfer, SpaceX holds 6,977 BTC, valued at approximately $832.7 million, per Arkham’s data. In comparison, Tesla, another Musk-led company, holds 11,509 BTC, worth $1.36 billion, with the combined Bitcoin holdings of SpaceX and Tesla exceeding $2 billion. With Bitcoin’s current market price significantly higher, the two companies are sitting on unrealized gains approaching $1.5 billion, highlighting the success of Musk’s early bet on the cryptocurrency.

The timing of SpaceX’s transaction aligns with a broader wave of Bitcoin adoption, fueled in part by President Donald Trump’s pro-crypto policies and recent legislative advancements favoring digital assets. Traditional financial institutions are increasingly embracing Bitcoin, with many establishing corporate treasuries or launching crypto-related services. This growing acceptance has bolstered Bitcoin’s legitimacy as an asset class, potentially influencing SpaceX’s decision to re-engage with its crypto holdings after a three-year hiatus.

Adding intrigue to the transaction is Musk’s recent political activity. The billionaire entrepreneur, once a close ally of Trump before their public falling out, announced the formation of the “America Party” on X, a new political entity aimed at challenging the dominance of the two-party system. Musk explicitly stated that the party would support Bitcoin, signaling his continued belief in the cryptocurrency’s potential. Additionally, in June we reported that Musk’s X platform is undergoing a transformation into a comprehensive financial hub, with plans to enable users to make investment and trading activities, which will undoubtedly include cryptocurrency transactions. While it remains unclear whether SpaceX’s recent Bitcoin transfer is tied to these developments, the move could be an early step in aligning Musk’s business ventures with his broader financial vision.