Bitcoin Updates: SpaceX's Bitcoin Moves Indicate a Trend Toward Institutional Custodial Security

SpaceX has once again shifted a large share of its

assets, moving $134 million in to fresh wallets on October 24, 2025, as reported by blockchain analytics provider . The transfers involved 300 BTC (worth $33 million) and 915 BTC (valued at $100.7 million), making this the second instance this week that the company has adjusted its crypto holdings. Earlier in the week, SpaceX had already moved 2,395 BTC ($268 million), breaking a three-month period of no activity in its Bitcoin accounts. Experts believe these transactions may signal a move toward using custodial solutions, with some of the funds possibly passing through Prime.

This recent movement has fueled further speculation about SpaceX’s broader plans for its digital assets. The company is estimated to possess about 6,970 BTC, currently worth around $770 million, while its affiliate

holds 11,509 BTC, valued at $1.24 billion. Tesla, which offloaded most of its Bitcoin in 2022, now stands as the 11th largest public company in terms of Bitcoin reserves. By comparison, firms like Strategy (640,418 BTC) and MARA (53,250 BTC) maintain much larger Bitcoin holdings.

The timing of these transfers by SpaceX has caught the eye of the crypto sector. The October 24 transactions took place just three days after a $268 million

of BTC, which was divided into 1,187 BTC and 1,208 BTC. Blockchain analysis suggests that these actions may reflect a restructuring of wallet management, with Coinbase Prime possibly receiving fees for providing custody. Such moves are in line with a broader industry trend where institutions rely on custodians to safeguard digital assets and improve operational efficiency.

Elon Musk’s companies have played a prominent role in the Bitcoin space. While Tesla’s 2022 Bitcoin sale sparked discussion about how corporations handle crypto, SpaceX’s recent transactions point to a more hands-on approach to managing its assets. Although SpaceX’s Bitcoin stash is a small part of its total finances, it highlights the increasing role of cryptocurrencies in corporate balance sheets.