SpaceX Transfers $257 Million in Bitcoin for the First Time Since July

SpaceX manages 5,790 BTC valued at $630 million.

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 1,298 BTC ($139 million) and 1,197 BTC ($128 million) to two wallets. The receiving addresses have not moved the coins since.

SpaceX has not commented on the reasons for the transfers.

In July, Musk’s firm engaged with cryptocurrency by sending 1,308 BTC worth $152 million to an unknown wallet. Prior to this, the company had only moved assets in June 2022.

According to Arkham, at the time of writing, SpaceX manages 5,790 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,” the billionaire wrote.

Notably, in 2021, Tesla suspended payments in digital gold due to the environmental harm caused by mining. The announcement led to a market downturn.

Musk promised to reinstate this option once the share of renewable energy in asset mining increases.

According to Cambridge, in 2025, this 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 vehicle payments.

Earlier in 2024, Musk suggested the use of cryptocurrencies as a monetary unit on Mars.