SpaceX conducts first Bitcoin transfer in six months, drawing attention, but on-chain data shows no signs of selling

According to monitoring by Arkham Intelligence, SpaceX has recently conducted its first Bitcoin wallet activity in about six months. However, this transfer was extremely small in scale, and no BTC has flowed into any exchange addresses, indicating that the company is not selling Bitcoin.

Data shows that SpaceX-related wallets made a total of three transfers. The largest transfer was 0.00213 BTC, worth approximately $135; another transfer was for 0.00139 BTC, worth about $89. Additionally, Coinbase Prime's custody service replenished 0.000738 BTC (worth about $47) to a SpaceX address, which is suspected to be a payment for on-chain transaction fees.

Currently, SpaceX still holds approximately 18,712 BTC, with a total value of about $1.16 billion. Analysts believe that such small transfers are usually wallet maintenance operations, such as replenishing gas fees, consolidating address funds, or testing signature processes, and are not typical asset selling behavior.

SpaceX completed its IPO on June 12, becoming one of the largest IPOs in history, and for the first time disclosed its Bitcoin holdings in a public filing. Previously, Arkham Intelligence could only trace about 8,285 BTC belonging to SpaceX, while the company's disclosed holdings of 18,712 BTC are more than double the amount previously identified on-chain. According to the disclosed information, SpaceX's total purchase cost for its Bitcoin holdings was approximately $661 million, with an average cost of about $35,000 per BTC.

About six to seven months ago, SpaceX wallets conducted a larger-scale transfer. At that time, the company moved approximately 1,000 BTC in batches between its own wallets and Coinbase Prime custody addresses, but again did not send the funds to any exchange.

Currently, Elon Musk's companies, SpaceX and Tesla, hold a combined total of over 30,000 BTC. The market generally believes that only if SpaceX transfers Bitcoin to known exchange deposit addresses in the future would it be a significant signal of adjusting its BTC treasury strategy or a potential sale. (CoinDesk)