SpaceX Moves 1,308 BTC to New Wallet After Three Years of Inactivity

SpaceX, an American aerospace manufacturer and space transportation services company, has made headlines for transferring substantial amounts of bitcoin (BTC) to an unknown crypto wallet address.

According to data from blockchain analytics platform Lookonchain, the company, under the leadership of Elon Musk, transferred 1,308 bitcoins (approximately $153 million) at current market value.

SpaceX Wallet Reactivated After Three Years

Furthermore, it is worth noting that the transfer to the said wallet occurred after three years of dormancy. This means that the SpaceX transport company has not had any transactions during this time. However, Musk or Tesla has not formally stated the reason for the transaction.

Before the recent transaction, the last outbound transfer from SpaceX occurred on June 10, 2022. The entity moved 3,505 BTC, valued at approximately $102 million at the time, to Coinbase, one of the leading crypto platforms.

Following the latest development, the company currently holds a total of 6,977 BTC, worth $823.286 million at the current market price, according to data from Arkham Intelligence. 

Over the years, SpaceX has accumulated the leading crypto. Its founder, Musk, revealed in 2021 that the company owns BTC. The firm joined with Tesla, an electric vehicle manufacturing company owned by Musk, in adopting bitcoin.

Tesla Hits $600 Million in Profit

SpaceX is not the only company led by Musk that has transferred bitcoin over the years. Last year, the electric car manufacturer transferred its entire BTC portfolio, valued at $765 million at the time, to multiple unidentified wallets. The transfer marked the transaction executed by Tesla since June 2022.

Following the transfer, in November of that year, the firm’s CEO revealed that the firm held 11,509 BTC (valued at over $1 billion) at the time. The surge came as the price of the digital asset reached new highs. The asset increased from around $75,000 to $89,000 price level. 

Fast forward to 2025, Tesla reported an impressive $600 million BTC profit in the fourth quarter of 2024 due to a new rule from the Financial Accounting Standards Board (FASB). The initiative requires companies to reflect the market value of their crypto assets in their financial statements.

While crypto adoption increases by several institutions, BTC currently trades below $120,000, down from its new ATH of $122,979, reached on July 18, 2025. Many investors have profited from the recent surge in the asset.