#cryptonews Elon Musk's aerospace company SpaceX has once again made headlines in the digital asset community with another massive Bitcoin (BTC) transfer. According to on-chain data, around $130 million worth of BTC was moved from a wallet address associated with SpaceX. Notably, this was the company's second major transfer in just 72 hours, sparking speculation about the purpose behind the move.

It is unlikely that a large organization like SpaceX would make such high-frequency and high-value transactions. On-chain analysts and market observers are looking at a few key possibilities:

Internal treasury restructuring: This is the most common possibility. Large corporations frequently move assets between hot wallets, cold wallets, and various custodians to enhance security, optimize management, or reallocate assets in their treasury.