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Elon Musk’s aerospace firm SpaceX has transferred $94 million price of Bitcoin because it prepares for a possible $30 billion preliminary public providing (IPO) at a valuation of $1.5 trillion.
The switch was flagged by on-chain analytics agency Lookonchain that cited blockchain knowledge from Arkham Intelligence. It mentioned in a submit on X that SpaceX moved 1,021 BTC price roughly $94.48 million on the time of the switch.
SpaceX(@SpaceX) simply transferred out one other 1,021 $BTC($94.48M), to presumably Coinbase Prime for custody.https://t.co/zW62EKM2RD pic.twitter.com/PwBIvD5RaR
— Lookonchain (@lookonchain) December 10, 2025
Lookonchain speculated that the Bitcoin was transferred to a pockets handle linked to Coinbase Prime for custody. If that is so, it guidelines out {that a} sale is deliberate within the close to future.
The current switch is just not the primary time SpaceX has moved its Bitcoin. Since July 24, the corporate has carried out a number of transfers to completely different custodians as routine transfers. None of those had been adopted by gross sales.
Whereas the newest switch is being seen by many as one other routine motion, there are nonetheless some that anticipate a possible sale.
And SpaceX has bought BTC earlier than. In the midst of 2022, the corporate dumped round 70% of its holdings, presumably resulting from a market-wide crash that was triggered by the Terra-Luna meltdown and the collapse of FTX.
Even after that sale, knowledge from Arkham Intelligence exhibits that SpaceX holds over 8.2K BTC in its pockets. At BTC’s present value of round $90,245, the corporate’s holdings within the crypto are valued at greater than $722.181 million.
SpaceX BTC holdings (Supply: Arkham Intelligence)
In the meantime, knowledge from Bitcoin Treasuries exhibits that SpaceX is the fourth-largest non-public firm to carry BTC on its steadiness sheet under Stone Bridge Holdings with 10K BTC, Tether Holdings Restricted with 87.475K BTC, and Block.one with 164K BTC.
SpaceX Plans $30B IPO: Bloomberg
The timing of the switch has piqued market observers’ curiosity as a result of it coincides with a Dec. 10 report from Bloomberg that the aerospace big is shifting forward with plans for an IPO.
The report mentioned it plans to lift $30 billion at a $1.5 trillion valuation, which might make it one of many largest public raises in historical past.
Musk is already the wealthiest particular person on this planet with a web price of $494.6 billion, in accordance to Forbes. He has co-founded seven firms, together with automotive maker Tesla and the unreal intelligence startup xAI.
If the IPO takes place on the $1.5 trillion valuation, his reported 42% stake in SpaceX alone can be valued at $630 billion.
Musk has hinted on the IPO up to now 24 hours. On X, the social media platform that he owns, he shared a submit by Bloomberg journalist Eric Berger that included the caption, “Right here’s why I believe SpaceX goes public quickly” and a hyperlink to an article that he wrote.
As standard, Eric is correct
— Elon Musk (@elonmusk) December 10, 2025
Whereas quoting the submit, Musk wrote, “As standard, Eric is correct.”
If SpaceX does certainly go public, will probably be ranked because the 14th-largest publicly-listed BTC holder, putting it above Try with its holdings of over 7.5K Bitcoins and under Block Inc. with its holdings of greater than 8.7K BTC.
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