SpaceX Shifts $94M in Bitcoin Ahead of Potential $1.5 Trillion IPO
SpaceX has shifted more than $94 million worth of Bitcoin (BTC) across two transactions on Wednesday, according to new on-chain data — adding fresh intrigue to the company’s increasingly active digital-asset activity ahead of its expected initial public offering in 2026.
Data from blockchain analytics platform Arkham Intelligence shows that two SpaceX-labeled Bitcoin wallets moved a combined 1,021 BTC to separate addresses. The transfers were split into 407 BTC and 614 BTC, together totaling roughly $94.3 million at current market prices.
“SpaceX just transferred $94 million of BTC. They have been moving around $100 million of BTC every week for around the past two months now,” Arkham posted on X, underscoring a notable acceleration in the company’s previously dormant crypto activity.
A Two-Month Pattern of Large Bitcoin Transfers
The latest movement continues a pattern of regular, high-value Bitcoin transfers by the private aerospace giant.
Over the past eight weeks, SpaceX has shifted nearly $100 million worth of BTC on a weekly basis — a striking change for a company that had not touched its on-chain Bitcoin reserves for three years.
As recently as last week, the company transferred another batch of Bitcoin worth approximately $100 million, suggesting an intentional restructuring, consolidation, or custodial repositioning of its holdings.
What remains unclear is why these transfers are taking place.
No evidence directly links the activity to SpaceX’s much-discussed IPO plans, and the company has not addressed the on-chain movements publicly.
SpaceX IPO Speculation Intensifies Ahead of 2026
SpaceX’s financial maneuvers arrive as reports indicate the company is preparing for a potentially historic public offering.
According to Bloomberg, SpaceX could seek to raise more than $30 billion in a 2026 listing that may value the firm at roughly $1.5 trillion, positioning it as one of the largest IPOs in history.
If SpaceX goes public while still holding its current Bitcoin stash, it would instantly become one of the largest BTC-holding public companies in the world.
With 8,285 BTC on its balance sheet — valued at approximately $770 million — SpaceX currently ranks as the fourth-largest private corporate holder of Bitcoin. In the public-company arena, that would put it around fourteenth.
The company’s Bitcoin holdings were significantly larger in 2022, when it reportedly held as much as 25,000 BTC. Since then, a combination of market activity and strategic movement has reduced that figure.
Renewed Bitcoin Activity Amid Market Recovery
Wednesday’s transfers coincide with Bitcoin’s ongoing rebound from November’s multi-week slump. After falling to nearly $81,000, BTC has climbed back to around $89,834, though it remains 28% below its October all-time high above $126,000.
BTC price (Source: CoinGecko)
SpaceX’s steady on-chain activity also comes at a time when institutional participation in Bitcoin has reached new heights — from corporate treasuries to spot ETFs to private balance sheets.
With Elon Musk already deeply connected to the crypto ecosystem through Tesla, Dogecoin endorsements, and X’s evolving payments strategy, SpaceX’s Bitcoin strategy continues to fuel speculation across both financial and digital-asset circles.
A Firm Known for Bold Moves
Headquartered in Starbase, Texas, SpaceX has repeatedly demonstrated its willingness to break from industry norms in spaceflight, manufacturing, and financing. Its approach to Bitcoin appears no different.
Whether the recent movements are tied to internal restructuring, counterparty shifts, liquidity planning, or preparations for the public markets, the company’s renewed crypto activity is being watched closely by investors and analysts alike.
