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SpaceX Transfers 1,163 BTC Valued at $105 Million to New Wallet – Analysts Suggest Control Over Liquidation
On Thursday, Elon Musk’s SpaceX transferred 1,163 Bitcoin to a new wallet, valued at $105 million, indicating a potential custody strategy.
The transaction took place during the early hours in Asia and is thought to have been sent to Coinbase Prime for safekeeping.
SpaceX(@SpaceX) transferred out another 1,163 $BTC($105.23M) 2 hours ago, possibly to Coinbase Prime for custody.https://t.co/zW62EKM2RD pic.twitter.com/vrbu6tPGR4
— Lookonchain (@lookonchain) November 27, 2025
According to Arkham data, this transfer follows a significant Bitcoin movement by the space exploration firm in October, where 1,215 BTC was sent to various new addresses, amounting to $133.7 million.
After the recent transfer, SpaceX’s wallet now contains a total of 6,095 Bitcoin, valued at nearly $553 million. As reported by BitcoinTreasuries, SpaceX ranks fourth among privately owned companies with Bitcoin reserves.
SpaceX BTC Flow – Custody Rather Than Selling
The SpaceX wallet had been inactive for three years before activity resumed in late July 2025. The company previously held as much as 25,000 BTC in 2022 but later consolidated and decreased its on-chain balance to the current amount.
The rationale behind the latest transfers remains uncertain. The company has not provided any statements regarding whether this transfer signifies a sale, internal reorganization, or enhanced security for its cryptocurrency assets.
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Nonetheless, analysts suggest that this movement indicates improved custody strategies rather than liquidation intentions.
One user commented that substantial transfers from companies like SpaceX suggest they are “positioning” for something. “It could be routine custody, but it still introduces a layer of uncertainty that shouldn’t be overlooked,” the user noted on X.
Additionally, the only certainty at this point is that both receiving wallets have remained inactive, with no outgoing transfers, no exchange interactions, and no signs of liquidation.
“When institutions like SpaceX move Bitcoin, they do so with careful consideration,” remarked another user. “The market may require time to grasp the purpose, but the signal is already evident. Subtle transfers can sometimes convey more than public announcements.”
For months, the SpaceX wallets remained completely still, with no transfers, no experiments, and no indications of intent. Then, just six hours ago, the silence was broken. Without warning, 1,163 $BTC, exceeding $105 million, was withdrawn from storage and divided between two entirely new addresses. No… pic.twitter.com/QNW7L0sXgu
— EyeOnChain (@EyeOnChain) November 27, 2025
Meanwhile, Tesla, another company owned by Elon Musk, continues to hold a substantial amount of Bitcoin. It currently possesses 11,509 BTC, valued at $1.05 billion, placing it 11th among publicly traded companies with Bitcoin holdings.
Bitcoin Pushes Above $90K, Rallies Over 4% in a Day
Bitcoin experienced a 4.35% increase over the past 24 hours, recovering from a 19.76% decline over the month. This coincides with a 3.35% gain in the overall cryptocurrency market.
Bitcoin rebounded from the $86k “support box” identified by analyst Lennaert Snyder. The 24-hour rally encounters resistance at $89k – a threshold Bitcoin needs to reclaim to aim for $93k. The leading cryptocurrency is trading at $91,230 at the time of this report, according to CoinMarketCap data.
The post SpaceX Moves 1,163 BTC worth $105M to New Wallet – Analysts Believe Custody Over Liquidation appeared first on Cryptonews.
