Elon Musk’s aerospace company is once again in the spotlight. This week, SpaceX transferred $257 million worth of Bitcoin — this is already the second major transaction in the past three months. The movement of assets sparked a wave of discussion: investors are speculating whether the company is preparing to sell part of its holdings.
Movement of funds and unknown addresses
According to analytics platform Nansen, the SpaceX wallet with address ‘1MDyM’ transferred about $130 million in Bitcoin to a new address ‘bc1qj’. Another company wallet — ‘1AXeF’ — sent $127 million to the address ‘bc1qq’. The recipients have not made any transactions yet, and the company itself has not commented on the situation.
This is already the second such movement in a short period. In July, SpaceX transferred $153 million in Bitcoin — at that time, it was the first transaction since 2022. The new transfer has increased interest in how the company manages its digital assets and uses them in its current financial strategy.
Musk and Bitcoin: a complicated relationship
Elon Musk has repeatedly spoken about Bitcoin’s potential, emphasizing its resistance to inflation and the energy nature of the network. However, his interaction with the cryptocurrency industry remains controversial.
SpaceX first disclosed its Bitcoin holdings in 2021, simultaneously with Tesla, which then purchased $1.5 billion in BTC. A few months later, Tesla suspended accepting Bitcoin for car payments due to environmental risks, which caused a temporary 6% drop in the price.
Although the automaker has not sold most of its assets to this day, it has not returned to accepting cryptocurrency. Musk stated that the company would resume acceptance when the share of renewable energy in mining increases significantly. According to analysts, this figure has already exceeded 55%.
Pressure on SpaceX is increasing
The Bitcoin transactions coincided with a challenging period for SpaceX. The company is facing political and competitive pressure: NASA announced it would open the lunar lander contract to other contractors.
The head of the agency stated that due to delays in the Starship project, NASA will consider proposals from other companies. The contract with SpaceX, signed in 2021, is valued at $4.4 billion and provides for landing astronauts on the Moon by 2027.
Now, according to CNBC, Blue Origin and Lockheed Martin — SpaceX’s key competitors in the space technology market — are ready to compete for the same project.
What’s next?
The Bitcoin transfer may be part of an internal financial restructuring at SpaceX or a signal of preparation for new investments. However, against the backdrop of growing pressure from NASA and competitors, the movement of such large sums inevitably raises questions.
SpaceX still does not disclose details of its cryptocurrency operations. If the company decides to use Bitcoin more actively, this could set a precedent for the corporate sector and strengthen BTC’s position as a strategic asset.
Read more: Ethena expands its team and prepares to launch two new products
