SpaceX Moves $450M in Bitcoin in 10 Days as Musk Stirs Market Buzz
Elon Musk's aerospace company SpaceX has done it again - the third major Bitcoin move in just 10 days, moving 281 BTC...
Quick overview
- SpaceX has moved 281 BTC worth approximately $31.3 million, marking its third significant Bitcoin transaction in just 10 days.
- The recent transfer has sparked speculation about Elon Musk's evolving stance on cryptocurrency, especially following his comments on Bitcoin's energy backing.
- Despite Bitcoin's price dropping below $110k after the transfer, analysts believe Musk's renewed interest could be beneficial for the market in the long run.
- SpaceX's on-chain activity suggests a potential shift in how the company manages its Bitcoin assets, following a significant reduction in exposure last year.
Elon Musk’s aerospace company SpaceX has done it again – the third major Bitcoin move in just 10 days, moving 281 BTC worth roughly $31.3 million according to blockchain analysis firm Arkham Intelligence.
The news confirmed on October 30 has reignited all sorts of rumors about how Musk feels about cryptocurrency, with Bitcoin’s price suddenly tanking below $110k following a few choice words from Federal Reserve Chair Jerome Powell – the man who can talk interest rates till the cows come home.
Blockchain sleuth Lookonchain observed that the latest transfer went to a new wallet address—not like the past few times SpaceX moved some coin, which has got some talking about possibly shifting how they handle custody & potentially even their asset portfolio.
Arkham’s data says:
- A total of 1207 BTC vanished from one of SpaceX’s linked wallets.
- 281 BTC, worth $31.3 million, remains unspent in the new wallet address ‘bc1qmg’.
- Some 19.33 BTC made its way to Coinbase Prime, which might just mean they’re experimenting with web exchange activity.
- Back to the starting point: 927 BTC have been returned to the main SpaceX wallet.
This comes after a couple of earlier transfers worth a combined $133.7 million and $268 million, and so now this month SpaceX has moved around $450 million in Bitcoin.
Bitcoin Worries for Musk – Again
The fact that all these transactions are happening is again raising many questions about what Elon has planned for his Bitcoin. His recent comments have gone from harsh to almost convinced that Bitcoin is the way forward—after all those years of grief over how much power it consumes.
🚨¡SpaceX lo hace de nuevo!🚨
En medio del caos del mercado, Elon Musk mueve 281 BTC (~$31.33M) a una nueva wallet, sumando $450M en transferencias de BTC SOLO en octubre. Parte de los fondos también se direccionaron a Coinbase Prime. Todo esto mientras Bitcoin cae bajo… pic.twitter.com/7Rp64FIRdg— Cripto Entusiastas (@CriptoEnt) October 30, 2025
In an October 14 post, Musk was basically saying Bitcoin is ‘money that’s backed by real energy’ – which has led plenty of analysts to think he’s had a real change of heart over digital assets.
Loads of crypto folk are thinking this latest flurry of activity might mean:
- He’s feeling some pre-volatility jitters.
- Looking to reorganize ahead of any changes in the economy.
- Or maybe gearing up to accumulate more—if all this is part of his long-term crypto strategy.
Historically, we know SpaceX scaled back its Bitcoin exposure by nearly 70% back in 2022 after the whole Terra-Luna and FTX drama. But right now, on-chain activity suggests a renewed approach to managing its digital cash.
Price Dips, Traders Stay Focused
Bitcoin took a bit of a hit right after the SpaceX move, dropping by nearly 2% to $108k in an hour or so—and is still down a bit (4%) over the last 24 hours, trading at $108k-$113k or so. Volume is still pretty flat.
The way market analysts see it, the timing of SpaceX’s Bitcoin moves & Powell’s ‘hawkish’ comments has just added a bit more uncertainty to traders right now. On the other hand, some people think a renewed spot of attention from Elon on Bitcoin is ultimately a long-term positive for the market – especially if SpaceX keeps accumulating amid all the other big institutions getting more and more interested.
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