SpaceX Shifts Bitcoin Holdings Amid Leadership Concerns
According to Arkham Intelligence data, SpaceX has consolidated a significant portion of its Bitcoin holdings into a single blockchain address, prompting questions from investors amid concerns over the company following Elon Musk’s recent public feud with U.S. President Donald Trump.
Key Details
-
SpaceX moved $153 million worth of Bitcoin (roughly 1,308 BTC) from 16 addresses to a single “SegWit-compatible” P2WPKH wallet.
-
The aerospace company currently holds an estimated total of $990 million of Bitcoin across its balance sheet.
-
This marks SpaceX’s first on-chain Bitcoin transaction in three years, following its last movement in June 2022.
-
SpaceX was not immediately available for comment after the transaction was first noted by Decrypt.
Background & Context
The timing of SpaceX’s Bitcoin movement aligns with ongoing concerns about the privately-held company’s finances. Government contracts are a major source of revenue for SpaceX, reportedly providing “at least $1 billion worth” of funding annually since 2016.
Following Musk’s disagreement with the Trump administration (including a recent review of SpaceX government contracts), questions have arisen about potential future asset liquidation, despite SpaceX’s plan to raise billions through equity sales. Selling $1.6 billion (current equivalent of SpaceX’s total Bitcoin) would dilute Musk’s stake without necessarily triggering a full sale.
Market Discretion
This action may be purely technical. The company provides valuable context about SpaceX’s financials:
-
SpaceX first announced holding Bitcoin online in July 2021.
-
It also represents the electric vehicle division, Tesla, which holds $1.37 billion in Bitcoin.
-
Bitcoin prices have recently trended upward, adding value.
