After three years of inactivity, SpaceX has transferred 1,308 Bitcoin (worth around $153 million) from a dormant wallet to a new address. On-chain data from Arkham Intelligence confirmed the transfer occurred on July 22, just hours after BTC reclaimed the $67,000 mark.
According to transaction logs, the funds came from a previously dormant SpaceX wallet labeled “15oKQ” and were sent to a new address, “bc1q8ka…,” also linked to the company. The transfer sparked immediate attention across the crypto community, as the stash had remained untouched since 2022.
SpaceX: A Giant Beyond the Skies
Founded by Elon Musk in 2002, SpaceX is a private aerospace company that builds and launches advanced rockets and spacecraft. It operates the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft, and the Starlink satellite constellation. It also leads NASA’s Artemis missions and runs frequent launches from Cape Canaveral.
Aside from its space ambitions, SpaceX has become increasingly active in financial tech. It previously held crypto assets, including Bitcoin, as confirmed in financial reports revealed in 2023.
Where Did the BTC Come From?
During 2020-2022, SpaceX accumulated over 9,000 BTC in a series of Coinbase-linked transfers. It made several purchases during the bull runs of 2020 and 2021. Mirroring Tesla’s strategy during the same period. The BTC moved on July 22 represents just a portion of its holdings.
Over the past three years, SpaceX made key investments in areas that align with both its core mission and technological edge. These include:
Starlink satellite infrastructure, expanding global internet coverage
Raptor engine manufacturing upgrades
Moon and Mars-bound spacecraft under the Starship program
Acquisition of AI hardware and private computing clusters
Though the company never formally disclosed ongoing crypto holdings, blockchain activity has consistently linked SpaceX wallets to major BTC positions..
Why Now and What’s Next?
The timing of the transfer has raised eyebrows across the crypto market. Bitcoin gaining renewed strength in July, many large holders have started repositioning their assets. Analysts suggest the SpaceX move could point to several possibilities. Which includes an internal wallet restructure, a potential over-the-counter (OTC) sale, or simply a custodial security upgrade.
There’s also speculation it may signal a broader corporate shift in crypto strategy. Given Elon Musk’s well-known support for digital assets and the growing role of Bitcoin as a treasury reserve. SpaceX might be preparing for more direct use of BTC, perhaps for settling infrastructure payments. That includes funding fuel logistics or even enabling smart contracts across its Starlink satellite network.
Impact on Crypto Markets
The movement of $153 million in Bitcoin from a prominent corporate wallet sends a bullish signal. It reaffirms BTC’s role as a long-term store of value and a treasury asset for tech-forward enterprises. Market watchers noted no sell-off followed the transaction, calming fears of liquidation.
More importantly, SpaceX’s quiet re-engagement with BTC suggests that the corporate crypto cycle may be restarting. If large tech firms resume activity, the broader digital asset space could see a new wave of institutional inflows.
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