SpaceX transferred 1,163 Bitcoin (BTC) to a new wallet valued at $105 million on Thursday. This latest transaction, tracked by blockchain analytics firm Arkham, follows previous transfers of over 1,200 BTC in late October. There are currently no indications that the company plans to sell its Bitcoin holdings.
Market Analysis and Holdings
The transfer occurred during early trading hours. Analysts monitoring the situation suggest the funds were likely moved to a custodial provider rather than a cryptocurrency exchange. Despite the historical volatility associated with corporate Bitcoin strategies, SpaceX continues to hold more than 6,000 BTC. This positions the company as one of the largest private institutional holders of the cryptocurrency. Corporate adoption of Bitcoin has seen an increase in 2024–2025, as businesses look to diversify their treasuries amidst ongoing inflation and geopolitical uncertainty.
Wallet Activity and Future Expectations
The newly designated receiving wallet remains inactive, showing no signs of sell-offs or interaction with exchanges. Market observers are anticipating further updates in the coming days, particularly if the transfer is linked to enhanced custody measures or an internal treasury restructuring by SpaceX.