SpaceX Moves $105M in Bitcoin Amid Market Speculation

SpaceX Moves $105M in Bitcoin Amid Market Speculation

SpaceX has executed a significant Bitcoin transfer, moving $105 million worth of BTC into new wallets and igniting widespread speculation across the crypto market. The company shifted 1,163 BTC during early Asian trading hours, marking another major reshuffling of its digital asset treasury.

Blockchain analysts say the activity suggests a custody restructuring rather than liquidation. Destination addresses appear linked to Coinbase Prime—indicating enhanced security, third-party custody, or internal treasury adjustments. The move follows a similar October transaction where SpaceX transferred 1,215 BTC, adding to a series of large wallet migrations throughout the fall.

This article breaks down the details behind SpaceX’s latest BTC movement, explores expert interpretations, and compares the aerospace company’s strategy with Tesla’s Bitcoin holdings. We also examine how these institutional transfers intersect with Bitcoin’s recent price performance.

SpaceX Transfers $105M in Bitcoin to New Wallet

On November 27, 2025, SpaceX moved over $100 million worth of Bitcoin into newly created wallet addresses. The transfer is part of an ongoing series of significant BTC relocations that the company initiated earlier this year.

Timing aligned with Asian trading hours

The movement occurred during early Asian trading hours—an unusual but strategic window where liquidity conditions differ from US markets. The transfer appeared methodical and deliberate, signaling a planned operation rather than an urgent response to market volatility.

Blockchain traceability immediately revealed the transfer was monitored across multiple intelligence platforms, highlighting how even institutional movements remain transparent on-chain.

1,163 BTC moved to Coinbase Prime–linked addresses

The 1,163 BTC were split into two fresh wallets, receiving 399 BTC and 764 BTC respectively. Both addresses showed no activity prior to the deposits, a strong sign they were created specifically for this operation.

On-chain behavior and wallet clustering suggest links to Coinbase Prime, a custody solution designed for institutions that require hardened security and operational control.

The receiving wallets have remained untouched since the transfer—reinforcing the interpretation that SpaceX is reorganizing custody, not preparing to sell.

Follows a similar October Bitcoin migration

This movement continues a trend from October, when SpaceX relocated several large BTC batches as part of a broader security upgrade. In total, the company shifted more than 4,300 BTC in October alone, distributing assets into new, more secure wallet formats.

The November transfer marks the first major movement since late October and suggests SpaceX is following a long-term, structured custody transition.

Analysts Interpret Move as Custody Reshuffle

Market watchers overwhelmingly view the transfer as an internal restructuring effort.

No signs of liquidation

None of the receiving wallets have initiated outgoing transactions. No exchange interactions, no conversions, no signs of selling pressure. This behavior is consistent with previous SpaceX movements throughout 2025, none of which resulted in exchange sales.

Possible motives: security, quantum-resistant wallets, risk rotation

Experts cite multiple reasons for such institutional transfers:

• Strengthening security protocols
• Migrating away from older address formats
• Testing new custody configurations
• Preparing for long-term treasury management changes

Some analysts speculate SpaceX may be moving funds toward quantum-resistant infrastructure—an emerging trend among high-value BTC holders.

Community commentary

Crypto analysts and X (Twitter) users noted that institutional transfers rarely happen without strategic intent, often signaling forward-looking treasury management rather than market timing. Others emphasize that such moves often introduce uncertainty, but usually do not indicate imminent selling.

Dormant Wallet Activity Raises Strategic Questions

SpaceX’s Bitcoin treasury behavior shows a deliberate, multi-year approach to digital asset management.

Wallet inactive for three years until 2025

The company’s primary BTC wallet remained silent for nearly three years until July 2025, when it suddenly executed a 1,308 BTC movement. This reactivation suggested a renewed focus on restructuring digital asset holdings.

SpaceX once held 25,000 BTC

At peak levels in 2022, SpaceX held roughly 25,000 BTC before significantly reducing exposure during periods of extreme market turbulence. By late 2022, on-chain data suggested holdings temporarily dropped to zero before being rebuilt.

Current holdings: 6,095 BTC

Today, the aerospace company maintains 6,095 BTC—worth more than half a billion dollars. Despite major transfers, SpaceX’s total BTC balance has remained stable, indicating repositioning rather than accumulation or liquidation.

These strategic adjustments suggest a long-term digital treasury approach aligned with risk management and operational efficiency.

Tesla’s Bitcoin Holdings Offer Institutional Comparison

Tesla provides a contrasting model for how Musk’s companies manage cryptocurrency exposure.

Tesla holds 11,509 BTC worth over $1B

Tesla maintains nearly double SpaceX’s BTC holdings, valued at more than $1 billion. Unlike SpaceX’s active wallet rotation, Tesla’s BTC position has remained relatively static throughout 2025.

Both companies maintain long-term BTC exposure

Combined, Elon Musk’s companies hold over $1.6 billion worth of Bitcoin—indicating a consistent view of BTC as a strategic long-term asset.

Tesla’s holdings place it 11th among publicly listed Bitcoin treasuries, while SpaceX, being private, is not ranked but would fall significantly lower due to smaller holdings.

Bitcoin Price Rebounds Amid Institutional Moves

BTC up 4.35% as market sentiment improves

Despite uncertainty, Bitcoin has climbed above $91,000, gaining more than 4% in 24 hours as the broader crypto market rebounds.

Market bounced off $86K support

BTC recently tested support around $86,000 before consolidating and pushing higher. Analysts view this support zone as a critical foundation for the current recovery.

Next resistance: $93K

Traders now eye $93,000 as the next major resistance level. A breakout above this zone could pave the way for renewed bullish momentum, while failure could trigger a retest of lower support levels.

Conclusion

SpaceX’s recent $105 million Bitcoin transfer highlights the company’s methodical approach to digital asset management. Rather than indicating selling pressure, the movement aligns with a broader custody restructuring strategy that SpaceX has followed for months. With 6,095 BTC still on its balance sheet, the company maintains significant long-term exposure to Bitcoin despite market volatility.

Compared to Tesla’s stable 11,509 BTC position, SpaceX’s more active wallet management reflects different risk and custody preferences between Musk’s enterprises. Meanwhile, Bitcoin’s recovery above $91,000 underscores the asset’s resilience as market participants analyze these high-profile transfers.

As institutional players refine their crypto strategies, these movements demonstrate Bitcoin’s evolving role as a treasury asset for companies navigating an increasingly digital financial environment.