SpaceX Moves $268 Million in Bitcoin as BTC Holds Above Key Support

Arkham Intelligence show SpaceX moved 2,495 BTC, split 1,187 BTC to an address starting bc1qq… and 1,208 BTC to bc1qj7… after a three-month lull.

Neither destination has sent funds out, which points to internal security or treasury optimization, not distribution.

Before this transaction, the firm’s primary wallet 8,285 BTC worth about $893 million. Following the transfer, SpaceX’s holdings stand at roughly 5,790 BTC, valued at $625 million.

Analysts these actions as consistent with internal portfolio management rather than market sales. The firm last conducted a similar transfer in July 2025, when it moved 1,308 BTC (around $153 million) after a three-year pause in major activity.

At its peak in 2021, SpaceX reportedly held close to 28,000 BTC before cutting its exposure during the 2022 market downturn.

Earlier this month, Tesla CEO Elon Musk issued a strong validation of Bitcoin after Zero Hedge suggested that AI has become the new global arms race.

Zero Hedge posted on X about surging gold, silver, and Bitcoin prices amid the “debasement trade,” suggesting that trade surpluses may be funneled into funding the AI arms race.

Despite no direct public endorsement of Bitcoin in years, Musk highlighted Bitcoin’s foundation in energy in response, adding that energy cannot be printed.

“Bitcoin is based on energy: you can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy,” Musk said.

Meanwhile, Bitcoin’s price has managed to hold above key support near $108,000, despite some short-term holder capitulation. Analyst data shows roughly 28,000 BTC being sent to exchanges at a loss.

However, the Taker Buy/Sell Ratio on Binance has back above 1.09, indicating stronger buy-side activity. If this buy-side aggression continues, it could trigger a short-term relief rally, though traders should remain wary of potential liquidity traps.