SpaceX Moves 1,021 BTC (~$94.5M) as IPO Speculation Grows
SpaceX has moved 1,021 BTC — roughly $94.5 million at current prices — via Coinbase Prime, according to on-chain tracking. The firm’s recent transfers now total about 8,910 BTC as it appears to consolidate custody; Arkham Intelligence reports that an earlier tranche of 8,285 BTC linked to SpaceX is now showing 3,991 BTC at the previously identified addresses. Tesla remains a large on-chain holder with 11,509 BTC, valued at approximately $1.24 billion.
Traders and analysts have interpreted the custody reshuffle as a potential preparatory step ahead of renewed IPO chatter, fueling short-term speculative interest. Large internal transfers don’t necessarily signal an imminent sale, but they can tighten perceived supply and influence market sentiment. Market participants will watch for further moves or announcements that clarify whether this is operational consolidation or positioning tied to corporate financing plans.