SpaceX Moves Large Amount of Bitcoin After 3 Years of Dormancy

On Tuesday, Elon Musk’s aerospace company, SpaceX, quietly conducted a $150 million Bitcoin transaction, marking its first cryptocurrency transfer since mid-2022.

A Long-Awaited Comeback

According to data from Arkham Intelligence, the wallet “15oKQ…7Jf1G,” believed to belong to SpaceX, transferred 1,308 BTC (equivalent to $150 million) to a new wallet “bc1q8…hartf.” This is SpaceX’s first public transaction since June 10, 2022, when the company frequently transferred large amounts of Bitcoin, around 1,200 BTC at a time, to Coinbase. From late May to mid-June 2022, SpaceX transferred a total of 17,314 BTC.

Currently, SpaceX has not disclosed the reason for this transaction. According to Arkham, after this transfer, SpaceX still holds 6,977 BTC, worth about $825 million. Meanwhile, Tesla owns 11,509 BTC, valued at approximately $1.36 billion.

In total, Musk’s two companies are holding over $2 billion in Bitcoin, purchased at an average price of around $32,000 per BTC. Arkham noted, “Both SpaceX and Tesla have achieved unrealized profits of nearly $1.5 billion from Bitcoin.”

Related: Solana Surpasses $200: Is the Memecoin Season Making a Comeback?

Political Context and Long-Term Strategy

SpaceX’s return to the Bitcoin market comes at a time when cryptocurrency is gaining broader acceptance in the U.S., particularly due to strong support from former President Donald Trump. Trump recently pledged to protect Bitcoin ownership rights and promote the blockchain industry if he returns to the White House.

Meanwhile, Elon Musk, who previously had a close relationship with Trump but has recently taken a different path, announced the formation of “The American Party,” a new political faction aimed at challenging the dominance of the two major parties in the U.S. On the platform X, Musk stated that his party would support Bitcoin as a symbol of personal freedom and financial sovereignty in the digital age.