SpaceX's first bitcoin wallet movements in six months likely don't signal sales

SpaceX (SPCX) apparently moved bitcoin $BTC$62,078.87 across its wallets early Wednesday for the first time in about six months in three transfers totaling less than $300 of its $1.16 billion holding that don't signal any impending sales.

Data from Arkham Intelligence shows the largest transfer across addresses tagged as belonging to the company moved 0.00213 $BTC, about $135, between two wallets. A second sent 0.00139 $BTC, or about $89.

In the third, Coinbase Prime's custody service topped up a SpaceX address with 0.000738 $BTC, around $47, the kind of small amount an exchange sends to cover network fees before a larger transaction can go through.

SpaceX went public on June 12 in the largest IPO on record, and its filing put the company's full bitcoin position on a public balance sheet for the first time. Small movements can draw attention after a share listing even though none of the coins reached an exchange deposit address and none left SpaceX's control.

The company still holds 18,712 $BTC. Transfers this size are usually routine maintenance: funding a wallet to pay fees, consolidating coins across addresses or testing a signing setup before moving a real balance.

SpaceX did not immediately respond to requests for comment.

Before the filing, Arkham could tie only about 8,285 $BTC to the company. The disclosed figure of 18,712 coins, bought for roughly $661 million at an average near $35,000 each, more than doubled what trackers had attributed to SpaceX and brought the rest of the holdings into view.

The last time the wallets moved in size was six to seven months ago, when SpaceX shifted roughly 1,000 $BTC at a time between its own addresses and Coinbase Prime custody, again without sending anything to an exchange.

SpaceX founder Elon Musk now oversees more than 30,000 $BTC across SpaceX and electric-car maker Tesla (TSLA).

Coins sent to a known exchange deposit address would be the first sign of whether SpaceX plans to handle its treasury any differently from when it was private.