SpaceX Bitcoin Wallet Stirs After Half-Year Nap, Moves Exactly $88 🚀

A wallet address tied to Elon Musk's SpaceX moved Bitcoin on July 8 for the first time in six months, according to Arkham Intelligence data, transferring $88 worth of BTC to a destination address that now holds 614 BTC valued at $38 million. The wallet still retains approximately 18,712 BTC, worth about $1.16 billion at current market prices. SpaceX last executed a larger Bitcoin transaction roughly six months prior, when it moved more than 1,016 BTC valued at nearly $100 million.

The transfer comes as SPCX stock, associated with a SpaceX-linked investment vehicle, declined more than 25% from prior levels and traded below its IPO debut price amid heavy profit-taking by investors. Outflows from the SpaceX wallet to other unknown addresses increased significantly last year near October 1, according to on-chain records reviewed by market participants.

The movement of BTC by SpaceX has fueled speculation alongside recent Bitcoin sales by Strategy, the business intelligence firm formerly known as MicroStrategy that has built one of the largest corporate Bitcoin treasuries. Market participants are watching whether the wallet activity signals further distribution or represents routine address management.

Arkham Intelligence, a blockchain analytics platform, tracks wallet attribution and on-chain flows across multiple networks. The data shows the SpaceX-linked address remained dormant on the Bitcoin blockchain for roughly 182 days before the July 8 transfer. Neither SpaceX nor Elon Musk has issued a public statement regarding the wallet activity.