Elon Musk’s SpaceX moves another $31 million of its bitcoin stash to new wallet: Arkham
SpaceX moved another $31.3 million in Bitcoin, continuing a pattern of likely custody consolidation this month via Coinbase Prime.Summary
Elon Musk's SpaceX transferred another 281 BTC, valued at $31.3 million, on October 29th, according to Arkham data cited by Lookonchain analysts. This marks the fifth such transfer in October, bringing the total moved this month to 4,337 BTC ($471.7 million), all executed through the institutional custody platform Coinbase Prime.
These recent movements follow earlier large transfers in October, including $268.5 million on Oct. 21 and $171.9 million on Oct. 24. Analysts suggest these transactions are part of a wallet reorganization, potentially involving moving funds from older Bitcoin address formats (starting with "1" or "3") to newer ones (starting with "bc1q" or "bc1p").
SpaceX confirmed holding Bitcoin in July 2021, but reportedly reduced its holdings by about 70% by the end of 2022. Arkham identified SpaceX's holdings in March 2024, tracking 8,285 BTC, though current tracking suggests a total of 7,258 BTC ($799 million). Tesla, which also holds Bitcoin, currently possesses 11,509 BTC.
(Source：The Block)