Recent on-chain activity shows the company relocated 1,308 BTC to a new address three weeks ago, a transfer that analysts treated as a shuffle rather than a sale.
Bitcoin fell from its roughly $124,000 peak and slipped below $119,000 in the hours after the disclosure. That drop trimmed market gains and cut the headline valuations of corporate holdings.
According to Arkham, SpaceX once held a much larger position — roughly 28,000 BTC at its April 2021 peak — and pared back the size of its on-chain balance during the market turmoil of 2022.
The mid-2022 moves came amid shocks like the Terra-Luna collapse and the FTX bankruptcy, events that pushed many firms to rework crypto exposure. Those earlier shifts help explain why SpaceX’s present on-chain total is smaller than the peak it carried.
According to reports, Tesla continues to hold 11,509 BTC, worth about $1.4 billion at current prices. Combined, the two Musk-linked companies now hold roughly $2.42 billion in Bitcoin on paper, a figure that depends entirely on the price snapshot used to value the coins.
Reports say the Treasury’s plan to rely on confiscated crypto for any government reserve rather than buying new BTC could keep selling pressure off the market short term, but price action will follow many signals — macro moves, on-chain flows, and public remarks from big holders.
According to multiple reports, SpaceX’s remaining 8,285 BTC is worth about $1.02 billion, but that headline number is now sensitive to fast price swings after the Treasury’s announcement.
Featured image from Unsplash, chart from TradingView
