Why is Elon Musk Shuffling BTC Ahead of Rumored SpaceX IPO?

What’s occurring with SpaceX and its Bitcoin (BTC) holdings? The privately held firm has been within the information for some time relating to its BTC reshuffling actions, and has as soon as once more made the information for a similar purpose.

On-chain knowledge means that the corporate shifted a large chunk of its

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Bitcoin
BTC

$90,297.67

2.57%

Bitcoin
BTC

Worth

$90,297.67

2.57% /24h

Quantity in 24h

$48.42B
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Worth 7d

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holdings, price over $94 million, on 10 December 2025. All this BTC shuffling enterprise has come about as the corporate gears up for a attainable IPO in 2026.

On-line blockchain sleuths at Arkham Intelligence noticed the transfer early on, saying that SpaceX-linked wallets despatched about 1,021 BTC to 2 totally different addresses, cut up into 407 and 614 BTC.

SPACEX JUST MOVED $94M $BTC

SpaceX simply transferred $94M of BTC. They’ve been transferring round $100M of BTC each week for across the previous 2 months now.

Of this switch, $37.66M was transferred to a brand new tackle, whereas $56.82M was change. pic.twitter.com/LVPg3037w4

— Arkham (@arkham) December 10, 2025

“SpaceX simply transferred $94 million of BTC. They’ve been transferring round $100 million of BTC each week for across the previous two months now,” Arkham posted on X.

SpaceX or Elon Musk has made no feedback on this matter up to now.

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From 25,000 BTC to eight,285: SpaceX Slims Down Crypto Stash

Apparently, SpaceX hadn’t touched its BTC stash in over three years. Nonetheless, earlier this yr, it began transferring round its cash extra incessantly. This current shuffling of its BTC has are available in only a week after it moved roughly $100 million price of BTC round.

BREAKING: SPACEX JUST MOVED BITCOIN FOR THE FIRST TIME IN 3 YEARS

They despatched 1.3K BTC ($153M) to a recent tackle this morning.

Biking custody wallets or transferring to promote? pic.twitter.com/bFkhkjYdho

— Arkham (@arkham) July 22, 2025

Again in 2022, SpaceX’s BTC holdings have been huge. The corporate held 25,000 BTC, which has dwindled in measurement ever since, and as of 10 December 2025, SpaceX is sitting on 8,258 BTC, valued at round $770 million.

This makes SpaceX the fourth-largest non-public firm holding BTC, and if it goes public, it could rank because the 14th greatest holder of BTC.

SpaceX slashed its BTC holdings by roughly 70% after the broader crypto panorama was rocked by the Terra-Luna crash and the FTX chapter.

Then again, Tesla, one other firm owned by Musk, continues to be holding on to greater than 11,500 BTC price $1 billion at present costs. Put collectively, Musk-linked firms management greater than $1.4 billion in BTC.

(Supply: Bitcoin Treasuries)

For essentially the most half, the current transfers seem like routine treasury administration duties. SpaceX is shifting its BTC into new self-custody wallets relatively than promoting the property. Additionally, there are not any indicators of alternate deposits.

DATs like Technique typically transfer round massive chunks of BTC for custody updates, so in that regard, SpaceX shuffling its BTC seems to be completely regular.

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SpaceX IPO Plans To Dwarf Saudi Aramco’s 2019 Itemizing

If current chatter is to be believed, SpaceX may launch its IPO as early as mid-to-late 2026, though some insiders suppose that it might spill over to 2027 relying on market circumstances.

In response to a Bloomberg report, the corporate is planning to boost greater than $30 billion, with a goal valuation of about $1.5 trillion, which is loopy. The numbers are large enough to beat out Saudi Aramco’s huge $29 billion itemizing again in 2019.

Now, for buyers planning to get in on the motion, an funding in SpaceX would clearly entail publicity to rockets, satellites, and the Starlink web aspect of issues. It could additionally embody publicity to the corporate’s crypto holdings.

Prediction markets (at present sitting at 67%) are already factoring within the probabilities of the IPO hitting a valuation of above $1 trillion.

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