SpaceX, the aerospace firm led by Elon Musk, has executed a significant bitcoin transfer, moving 2,495 BTC—worth approximately $268.5 million—to several unidentified wallet addresses.

This marks the company’s first movement of its bitcoin holdings since July 2025.

First major change since 2022

According to Arkham Intelligence, this is the first material change to SpaceX’s bitcoin reserves since June 2022.

The company’s holdings had previously remained steady at around 8,285 BTC. The transferred bitcoin remains unmoved or unsold at the new addresses, and the purpose behind the transfer has not been publicly disclosed.

Analyst suggests reorganization

Market observers are speculating on the reason for the transfer.

Crypto analyst Aunt Ai commented on X that it might simply be a wallet reorganization.

The analyst noted that prior SpaceX bitcoin movements on Arkham were later linked to the company’s interactions with a custody address on Coinbase Prime.

Aunt Ai wrote:

“It may later be identified as just part of a wallet reorganization.”

SpaceX and Tesla bitcoin holdings

SpaceX reportedly reduced its bitcoin holdings by about 70% in mid-2022, following market shocks such as the Terra-Luna and FTX collapses.

Since then, no additional bitcoin purchases have been reported, according to Arkham data. Elon Musk’s Tesla also sold off most of its bitcoin in 2022 and currently holds 11,509 BTC, valued at $1.24 billion.