SpaceX Moves $257 Million in Bitcoin for First Time in Months
Date: 2025-10-22 Author: Gabriel Deangelo Categories: BUSINESS
SpaceX, owned by Elon Musk, has transferred $257 million worth of Bitcoin—its first crypto asset transfer since July. According to Lookonchain analysts, the transaction included 1,298 BTC, worth approximately $139 million, and another 1,197 BTC, worth approximately $128 million, sent to two separate wallets. The receiving addresses have shown no activity since the coins arrived.
The company did not disclose the reasons for the transfer. The last such transaction was recorded in July, when SpaceX sent 1,308 BTC (approximately $152 million) to an unknown address. The organization had only previously moved assets once before—in June 2022. According to Arkham, SpaceX currently holds approximately 5,790 BTC, equivalent to approximately $630 million at the current exchange rate.
Musk's companies' interest in Bitcoin began back in July 2021, when they, along with Tesla, first announced their ownership of the cryptocurrency. At the time, Tesla acquired $1.5 billion worth of Bitcoin, which became a significant signal for the entire market.
Musk recently reiterated his concerns about the nature of Bitcoin. On October 14, he commented on a post on X (formerly Twitter) by a user named zerohedge, who noted that "money can be printed, but energy cannot." Musk agreed, stating that Bitcoin is based on energy, as "fiat money can be counterfeited, but energy cannot."
Despite this, Tesla's relationship with cryptocurrency has not always been stable. In 2021, the company suspended the ability to pay for cars with Bitcoin, citing environmental concerns caused by mining. Following this statement, the market dropped significantly. Musk later promised to resume accepting BTC when the share of renewable sources in cryptocurrency mining increases.
Cambridge research indicates that by 2025, this figure exceeded 52%, while Cointelegraph, citing analysts Daniel Batten and Willy Woo, reports a record 55%. However, Tesla still hasn't reinstated the option to pay for its cars with Bitcoin.
Notably, in early 2024, Musk admitted the possibility of using cryptocurrency as a means of payment on Mars, further underscoring his interest in digital assets and the future of financial technology.
Thus, SpaceX's recent actions may indicate a new phase in the company's engagement with the cryptocurrency market, where Bitcoin continues to play a key role.
