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Elon Musk’s aerospace firm SpaceX has transferred $94 million value 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 stated in a publish on X that SpaceX moved 1,021 BTC value 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 so, it guidelines out {that a} sale is deliberate within the close to future.
The current switch isn’t the primary time SpaceX has moved its Bitcoin. Since July 24, the corporate has carried out a number of transfers to totally different custodians as routine transfers. None of those have 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 attributable to 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 worth 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 personal firm to carry BTC on its stability sheet beneath 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 large is transferring forward with plans for an IPO.
The report stated 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 individual on the earth with a web value of $494.6 billion, in accordance to Forbes. He has co-founded seven corporations, together with automotive maker Tesla and the substitute 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 previously 24 hours. On X, the social media platform that he owns, he shared a publish 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 traditional, Eric is correct
— Elon Musk (@elonmusk) December 10, 2025
Whereas quoting the publish, Musk wrote, “As traditional, Eric is correct.”
If SpaceX does certainly go public, it will likely be ranked because the 14th-largest publicly-listed BTC holder, putting it above Attempt with its holdings of over 7.5K Bitcoins and beneath Block Inc. with its holdings of greater than 8.7K BTC.
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