Elon’s Latest Bitcoin Shell Game
Elon Musk’s space venture, SpaceX, just pulled another move straight out of his crypto playbook. On-chain sleuths at Arkham Intelligence caught the company shuffling a cool $94 million worth of Bitcoin (BTC) on December 10, 2025. This isn’t a one-off. For the past two months, SpaceX has been moving around $100 million in BTC every single week.
The timing? It’s all happening as rumors swirl about a massive SpaceX IPO, potentially hitting markets in mid-to-late 2026. Or 2027. Who knows with Musk?
From Hoard to Half-Empty Wallet
Remember when SpaceX sat on a mountain of Bitcoin? Back in 2022, they held a whopping 25,000 BTC. Then Terra-Luna crashed. FTX imploded. And suddenly, SpaceX got shy. They slashed their holdings by roughly 70%. As of December 10, 2025, they’re down to 8,285 BTC, valued at about $770 million.
Despite the trim, SpaceX still ranks as the fourth-largest private company holding BTC. If they go public, they’d snag the 14th spot among all BTC holders.
Meanwhile, Musk’s other plaything, Tesla, still clings to more than 11,500 BTC, worth a tidy $1 billion. Combined, Musk-linked companies control over $1.4 billion in Bitcoin. Just a casual sum, really.
Treasury Tweaks or Something More?
Arkham’s data shows SpaceX sending 1,021 BTC to two different addresses, split into 407 and 614 BTC. The official line? It looks like routine treasury management. Shifting BTC into new self-custody wallets. No signs of exchange deposits. Standard operating procedure for big players updating their custody.
But when it’s Elon, people talk.
The Trillion-Dollar Question: IPO Mania?
The real buzz is the IPO. Bloomberg reports SpaceX aims to raise over $30 billion, targeting a mind-boggling $1.5 trillion valuation. That’s enough to make Saudi Aramco’s 2019 monster listing look like pocket change.
Investors getting in would gain exposure to rockets, satellites, Starlink, and, of course, the company’s crypto holdings. Prediction markets are already hedging their bets, with a 67% chance of the IPO hitting a valuation north of $1 trillion.
So, is this Bitcoin ballet just standard practice before a colossal public offering? Or is it another chapter in the ongoing saga of Elon and his unpredictable crypto moves? Either way, the space industry and crypto world are watching.
- SpaceX shifted 1,021 BTC ($94M) to new wallets on December 10, 2025, fueling IPO speculation.
- The company’s Bitcoin stash shrank from 25,000 BTC in 2022 to 8,285 BTC today.
- SpaceX plans to raise over $30B in its upcoming IPO, targeting a $1.5T valuation.
