Activity continues surrounding Tesla CEO Elon Musk, a prominent figure known for his support of Bitcoin (BTC) and cryptocurrencies, particularly Dogecoin (DOGE).
The address linked to Elon Musk's space exploration company, SpaceX, has moved BTC holdings for the third time within the last 10 days.
Recent Transaction Details
According to a post by crypto analytics platform Lookonchain, SpaceX transferred 281 BTC, valued at $31.28 million, to a new wallet recently.
It is estimated that this transfer, similar to the previous two, was likely conducted for concealment purposes.
Context of Previous Transfers
Earlier, Arkham Intelligence detected a significant movement of 2,495 BTC, approximately $257 million, by SpaceX on October 21, 2025. This movement was noted as indicative of an ongoing restructuring pattern on the blockchain.
While SpaceX's Bitcoin transfers are generally believed to be part of a restructuring effort, the high value and frequency of these transactions have prompted some to consider the possibility of broader strategy changes within the company.
Some users are speculating that these shifts could signal an upcoming major announcement or a significant strategic pivot.
Further data from Arkham Intelligence indicates that SpaceX moved approximately $268.5 million worth of Bitcoin on October 21. This transaction represented the first substantial movement since July. Just three days later, another transfer of 1,215 Bitcoins, valued at approximately $133.7 million, took place.
Current Holdings and Past Actions
According to Arkham Intelligence, SpaceX's Bitcoin wallet currently holds approximately 7,258 BTC, with an estimated value of $801 million.
Following the Terra-Luna crash and the FTX bankruptcy, which significantly impacted the cryptocurrency market in mid-2022, SpaceX reportedly sold off around 70% of its Bitcoin holdings. There has been no evidence of any new Bitcoin purchases since that period.