SpaceX, Elon Musk's aerospace company, has once again shuffled its bitcoin holdings, transferring 1,163 BTC worth approximately $106.14 million to two separate wallets on November 26, 2025. The transaction was detected by on-chain analyst Sani, operator of timechainindex.com, whose timechain bot flagged the activity at block height 925338. “SpaceX coins on the move,” Sani wrote, sharing an image that stated: “A 1,163 BTC transaction from ‘SpaceX’ to ‘Coinbase Prime Custody and Unknown Entities’ has been broadcasted at block 925338.”
Details of the Transfer
The funds have since landed in two wallets containing 399 BTC and 764 BTC respectively, with an on-chain fee of just 13,675 sats (approximately $12.36). This follows a previous move last month when SpaceX sent 281 BTC to an unknown wallet, leaving observers wondering whether these coins are being rearranged internally or quietly positioned for a sale. SpaceX is not required to disclose any potential bitcoin sales until the close of the fourth quarter to the U.S. Securities and Exchange Commission (SEC).
Market Implications
The latest transfer comes at a time when bitcoin prices have been relatively stable, with minimal immediate market reaction. Analysts note that SpaceX's on-chain activities are closely watched given the company's substantial bitcoin holdings. The involvement of Coinbase Prime Custody in the transaction suggests possible institutional handling, though no official statement has been made. With the SEC reporting deadline approaching, investors are keenly awaiting further disclosures that could shed light on SpaceX's long-term cryptocurrency strategy. The pattern of periodic transfers—281 BTC last month and now 1,163 BTC—indicates that SpaceX is actively managing its digital asset reserves, though the ultimate intent remains unclear. Market participants will continue to monitor on-chain data for any hints of a larger sell-off or strategic repositioning.