SpaceX Transfers $153M in Bitcoin After Three-Year Dormancy, Sparking Market Speculation

On July 22, 2025, SpaceX initiated its first on-chain bitcoin activity in more than three years. According to blockchain analytics platform Arkham Intelligence, the company transferred 1,308 BTC, worth approximately $153 million, from a wallet dormant since June 2022 to a newly active address.

Within two hours of the transfer, the receiving wallet interacted with a CoinJoin address linked to multiple Binance deposit wallets. This activity has fueled speculation that SpaceX may be preparing to liquidate part of its bitcoin holdings, although no confirmed sell-offs have yet been observed.

Strategic Context: Political Ties and Defense Industry Pressure

The timing of the transaction coincides with a broader wave of pro-crypto momentum in the U.S., led by President Donald Trump’s administration. Recently, Musk launched the “America Party,” a political movement advocating for technological freedom, decentralization, and the broader adoption of bitcoin in the national economy.

Concurrently, SpaceX is under increasing scrutiny from the U.S. Department of Defense, which is reassessing supplier diversity for the Iron Dome missile defense system amid rising geopolitical tensions. Some analysts suggest that the bitcoin movement could be part of a larger strategic realignment—whether to raise funds for new projects, manage treasury risk, or position the company for political leverage in a volatile macro environment.

Market Implications: Cold Storage or Pre-Sale Signal?

The purpose behind the $153 million transfer remains ambiguous. While it could represent a standard reorganization of cold storage to enhance security or operational efficiency, the involvement of a CoinJoin-linked address and Binance connections raises the possibility of a pending sale.

Such a move could have outsized effects on the market. Bitcoin dominance recently slipped below 60%, as capital flows increasingly into altcoins, leaving BTC without firm short-term bullish momentum. If SpaceX begins liquidating portions of its holdings—estimated between 6,977 and 8,285 BTC—the market could experience downward pressure and a broader correction.

Bitcoin is currently trading near $118,000, and analysts warn that any major sell-off by a large corporate holder like SpaceX could shake investor confidence, especially in a fragile market still adjusting to shifting global monetary policies.

Musk’s Political Return Adds New Dimension

SpaceX’s bitcoin activity gains added significance amid Elon Musk’s possible return to U.S. politics. On July 22, 2025, Bloomberg reported that SpaceX warned investors Musk might re-enter the political arena soon. Given Musk’s strong influence in tech and crypto, this prospect has caught market attention.

His founding of the “America Party” suggests a push to blend technology, crypto, and policy. Some analysts believe the recent bitcoin transfer may align with Musk’s political plans, positioning SpaceX’s crypto assets amid changing regulations and geopolitical shifts.

As Musk’s political role develops, investors and the crypto community will watch how this affects SpaceX’s asset strategies and broader market sentiment.