Elon Musk’s SpaceX Transfers 1,300 Bitcoin for First Time in Three Years

Highlights:

• SpaceX transferred 1,308 BTC to an unknown wallet, its first move in years.
• Tesla and SpaceX together hold 18,486 BTC worth about $2.17 billion total.
• Musk supports Bitcoin and DeFi and launches “The American Party” with crypto vision.

Elon Musk’s SpaceX has made a surprising move by shifting a large amount of Bitcoin on-chain for the first time in three years. According to data from blockchain analytics platform Arkham Intelligence, on July 22, the company transferred 1,308 BTC, worth approximately $152 million, to an unidentified wallet. Interestingly, before the main transfer, the SpaceX wallet first sent a small fee of 0.000248 BTC (around $29) to Coinbase Prime.

The transfer happened at 13:09 (UTC+8) and is the first activity from SpaceX’s wallet in three years, since it moved 3,505 BTC to Coinbase. As of now, SpaceX retains 6,977 BTC, estimated to be worth around $815 million. All of SpaceX’s Bitcoin is currently stored with Coinbase Prime. This makes the company one of the biggest corporate Bitcoin holders in the world, following major names like MicroStrategy (MSTR) and Tesla (TSLA).

SpaceX(@SpaceX) transferred 1,308 $BTC($153M) to a new wallet after 3 years of dormancy.https://t.co/zW62EKM2RD pic.twitter.com/OAwmEKBbOa

— Lookonchain (@lookonchain) July 22, 2025

The sudden transaction has drawn attention and raised questions within the crypto community. The reason behind the transfer is still unknown. Since then, Bitcoin has not moved. This suggests it may be an internal adjustment, possibly for added security or cold storage management.

Musk’s Crypto Power Grows with Bitcoin Support and Tesla-SpaceX Holdings

Earlier this month, Elon Musk launched a new political platform called “The American Party.” He stated that the party would support Bitcoin as part of its economic vision. Although he didn’t provide many details, Musk criticized fiat currency as “hopeless,” which shows continued support for decentralized finance. Elon Musk has shared that he owns Bitcoin, Ethereum, and Dogecoin. He often promotes Dogecoin on X, which has even led to legal issues. Still, his support keeps boosting the crypto world.  

Musk’s crypto influence is more than just words. Tesla and SpaceX together hold 18,486 BTC, worth about $2.17 billion. Tesla owns 11,509 BTC, and SpaceX has 6,977 BTC after the transfer. Both companies bought Bitcoin at around $32,000 each and have kept their coins since then. This long-term position has left them with unrealized gains estimated to be close to $1.5 billion.

Large Bitcoin Moves Shake Market and Push More Coins to Exchanges

Following the massive BTC offload by SpaceX and the rising attention on its holdings, broader whale activity has also stirred market movements. On July 17, large holders shifted 61,000 BTC to exchanges, the highest single-day inflow in more than a year. This selloff pressure led to a swift 4% decline, dragging Bitcoin from its peak of $123,000 down to the $117,000–$118,000 range.

According to CryptoQuant, exchange inflows rose sharply by nearly $17 billion between July 14 and 18, jumping from $28 billion to $45 billion. Analysts pointed out that such inflow levels were last seen near previous cycle tops, hinting that major holders likely took advantage of the price rally to secure profits.