Elon Musk’s company SpaceX has transferred the leading cryptocurrency amounting to $257 million, as noted by analysts at Lookonchain.
After 3 months, #SpaceX moved another 2,495 $BTC($268.47M) — now holding 5,790 $BTC($624.63M).https://t.co/zW62EKM2RD pic.twitter.com/EUHo8ikgTT
— Lookonchain (@lookonchain) October 21, 2025
The company moved 1298 BTC ($139 million) and 1197 BTC ($128 million) to two wallets. The receiving addresses have not moved the coins further.
SpaceX has not commented on the reasons for these transfers.
The last time Musk’s firm engaged with cryptocurrency was in July, when it sent 1308 BTC worth $152 million to an unknown wallet. Prior to that, the company had only moved assets in June 2022.
According to Arkham, at the time of writing, SpaceX manages 5790 BTC valued at $630 million at the current rate.
The aerospace manufacturer first disclosed its Bitcoin holdings in July 2021, alongside another Musk company, Tesla. At that time, Tesla had acquired $1.5 billion in cryptocurrency.
Musk and Bitcoin
On October 14, Musk commented on the energy efficiency of the economic model of the leading cryptocurrency. His remarks were in response to a post by a user named zerohedge stating that “money can be printed, but energy cannot.”
True.
That is why Bitcoin is based on energy: you can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy.
— Elon Musk (@elonmusk) October 14, 2025
“True. That is why Bitcoin is based on energy: you can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy,” wrote the billionaire.
Notably, in 2021 Tesla suspended payments in digital gold due to the environmental harm caused by mining. The announcement caused a market downturn.
Musk promised to reinstate this option once the share of renewable energy in asset mining increases.
According to Cambridge, in 2025, the figure exceeded 52%. Cointelegraph, citing climate investor Daniel Batten and analyst Willy Woo, reported a record 55%.
However, Tesla has yet to resume accepting Bitcoin for car payments.
Earlier in 2024, Musk suggested the use of cryptocurrencies as a monetary unit on Mars.