Elon Musk's aerospace company SpaceX just made its first Bitcoin (BTC) transfer since 2022, moving $150 million in the cryptocurrency to a mysterious address. Is Elon Musk preparing for something?
SpaceX, the aerospace company led by Elon Musk, surprised the crypto ecosystem with a transfer of 1.308 BTC —equivalent to approximately $153 million— made on July 21. The movement, detected by platforms such as Arkham Intelligence and confirmed by multiple on-chain analysts, marks the first transfer of funds since June 2022, when SpaceX sent more than 17.000 BTC to exchanges in a series of operations that coincided with the post-bullrun correction of that year.
The current transaction was directed to a new wallet with no previous history, and no additional activity has been observed so far.
The amount was transferred in a single transaction, preceded by a test transaction of 0,000248 BTC, a common practice for verifying routes before moving large amounts of crypto assets. The low network cost, with a transaction fee of less than $30, reinforces the efficiency of the Bitcoin network even in high-volume transactions.
BUY BITCOIN ON BIT2MESpaceX makes its first BTC transfer since 2022
SpaceX currently maintains 6.977 BTC in custody, valued at approximately $820 million, according to data from Arkham Intelligence. This figure places the company as one of the largest corporate holders of Bitcoin, behind Tesla, which holds 11.509 BTC, and Block, which holds 8.584 BTC.
Since 2021, SpaceX has kept a low profile regarding its crypto holdings. Although Elon Musk publicly confirmed the investment in BTC that year, the company has not issued any official statements regarding its movements since then. This silence has been interpreted by analysts as a sign of strategic accumulation or conservative cash management.
1st hypothesis: SpaceX reorganizes its bitcoins
The first hypothesis points to an internal reorganization of assets. This type of movement does not imply a sale or liquidation, but rather a redistribution of funds to new directions, possibly due to security reasons, protocol updates or change of custodiansTesla, another of Elon Musk's companies, made similar moves in 2024, moving $765 million in BTC to seven new wallets without selling the assets.
The creation of a new address with no prior activity reinforces this theory. Furthermore, the fact that the funds have not been moved from the new wallet suggests they could be destined for cold storage or a new treasury structure.
BUY AND MANAGE BITCOIN HERE2nd hypothesis: Prepare for financial collateral
Some analysts are considering the possibility that SpaceX is preparing its BTC as collateral to obtain financing.
In the current context, where institutions like JPMorgan have begun offering loans backed by digital assets, this strategy makes sense. Transferring funds to a new wallet could be part of a fund segregation process to facilitate their use as collateral.
Although there's no official confirmation of this, the timing coincides with Tesla's quarterly report, which has sparked speculation about a possible synchronization between the two companies' financial strategies. If SpaceX plans to use its BTC as collateral, it could be anticipating liquidity moves or operational expansion.
3rd hypothesis: A political signal linked to Musk and the “America Party”
The third hypothesis connects SpaceX's bitcoin movement with Elon Musk's growing political exposure. In July, Musk announced the creation of a new political party after his disassociation with the Donald Trump administration. As he explained, it is a political platform that will “embrace Bitcoin” as part of its economic vision.
The phrase "fiat is hopeless” published on X (formerly Twitter) was interpreted as a statement of principles that reinforces its pro-BTC stance.
In this context, the transfer of SpaceX funds to a new wallet address could have a symbolic or strategic component. Musk has historically been influential in the crypto market, and his actions—even without explicit statements—tend to generate immediate reactions. If the move seeks to reinforce his political narrative, it could be aligned with a campaign to legitimize Bitcoin as a strategic and sovereign digital asset.
Certificate
Basic Bitcoin Course
Basic levelStart from scratch in Bitcoin in a clear, easy, safe and quick way. This course is specially designed for beginners practically know nothing about Bitcoin.
What does the market say about this BTC move?
The SpaceX transfer came at a time of consolidation for Bitcoin, which is quoted above $118.000 after reaching an all-time high (ATH) of 123.091 the previous week. Despite a slight correction, overall sentiment remains bullish, with accumulation by large holders and sustained institutional inflows.
The market reaction has been moderate, with no signs of a sell-off or abrupt volatility. This suggests that participants interpret the move as an internal or strategic action, rather than a potential sell-off. In fact, the Fear and Greed Index remains at optimistic levels. Furthermore, Bitcoin ETFs, although with a slightly calmer inflow rate than in previous weeks, continue to record positive numbers. All of this paints a picture of a more mature market that knows how to digest the news without panicking, at least for the time being.
BUY BITCOIN FAST AND SAFEInvesting in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
