SpaceX Transfers 1,163 Bitcoin to Coinbase Prime-Linked Wallet

SpaceX moves 1,163 Bitcoin to Coinbase Prime-linked wallet - 1

SpaceX has moved a substantial amount of Bitcoin, specifically 1,163 BTC valued at around $105 million, to a new wallet connected to Coinbase Prime. After this transfer, the on-chain holdings of SpaceX are now 6,095 BTC. Analysts believe this move indicates a custody reorganization rather than a sale.

Key Takeaways

SpaceX transferred 1,163 Bitcoin worth approximately $105 million to a Coinbase Prime-linked wallet.
The company's Bitcoin reserves have decreased to 6,095 BTC following the transfer.
Analysts suggest this transaction reflects a custody reorganization, not a liquidation.
SpaceX's wallet had been inactive for three years before activity resumed in July 2025.
Tesla, another Elon Musk-owned company, holds 11,509 BTC, ranking it 11th among publicly traded firms in Bitcoin holdings.

Recent Bitcoin Transfer by SpaceX

SpaceX moved 1,163 Bitcoins, equivalent to roughly $105 million, to a new wallet linked to Coinbase Prime on November 27, as reported by blockchain data provider Arkham Intelligence. This transfer occurred during early Asian trading hours and is believed to be aimed at securing the Bitcoin through custody with Coinbase Prime.

Bitcoin

This transaction follows a similar one from October, when SpaceX sent 1,215 BTC to several new addresses.

Current Bitcoin Holdings

Post-transfer, SpaceX's wallet currently holds 6,095 BTC, ranking the company fourth among privately held entities for Bitcoin holdings, according to BitcoinTreasuries. The wallet had been inactive for three years before activity resumed in late July 2025. In 2022, the company held up to 25,000 BTC but significantly reduced its holdings since then.

Analysis of the Transfers

SpaceX has not publicly commented on the reasons behind these transfers or whether they imply a sale, internal restructuring, or enhanced security measures for its cryptocurrency assets. Market analysts indicate that these transactions likely signify a restructuring of custody rather than a sale. Notably, both of the receiving wallets displayed no outgoing transfers or liquidation activities, further supporting this theory.

Tesla's Bitcoin Holdings

In related news, Tesla, another company led by Elon Musk, owns 11,509 BTC, which places it as the 11th largest holder among publicly traded companies.

Bitcoin's market has shown signs of recovery, with the recent transactions aligning with broader positive trends in the cryptocurrency market, as indicated by market data.