Key notes
- SpaceX wallets still hold 6,970 BTC worth $770.4 million, split between the Coinbase Prime cold storage and custody arrangements.
- Elon Musk released Floki Inu content and X announced a handles market ahead of potential crypto payment integration features.
- The transfer came during a week of Musk’s increased crypto engagement, fueling speculation about adjustments to institutional exposure.
Crypto wallets linked to Elon Musk’s SpaceX detected transferring $133.4 million worth of Bitcoin
BTC
$110,982
24h volatility:
1.2%
Market capitalization:
$2.21T
Flight. 24h:
$49.73 billion
on Friday, October 24, sparking immediate market reactions.
On-chain data from analytics platform Arkham shows that the transfer took place around 4:30 p.m. CET, when Bitcoin was trading near $111,200. Within hours, BTC briefly dropped to $109,938 before rallying back to $110,500 at press time.
Elon Musk’s SpaceX spotted moving Bitcoin worth $133 million | Source: Arkham
Large-scale moves by large institutional entities like SpaceX often spark speculation about impending sales, prompting traders to take a more cautious stance. The original account still contains 6,970.45 BTC, valued at approximately $770.4 million, according to data from Arkham Intelligence. These holdings would be split between cold storage and Coinbase Prime custody, suggesting that any potential sales could be part of an ongoing exposure adjustment rather than a full liquidation.
Elon Musk’s Week of Crypto Interactions Fuels Speculation
The $133 million BTC transfer coincides with a week of increased interaction between Elon Musk and the online crypto community.
On October 20, Elon Musk posted a humorous Floki Inu video, calling the Shiba Inu-themed dog the “CEO of X,” the social media platform he acquired in 2023.
Earlier in the week,
DOGE
$0.20
24h volatility:
1.9%
Market capitalization:
$29.92 billion
Flight. 24h:
$1.44 billion
or crypto-based payments within the platform.
The post reignited interest in Dogecoin and other Musk-related meme tokens, briefly increasing DOGE trading volumes on major exchanges.
As a private company, SpaceX’s total Bitcoin holdings and reserve strategy are not disclosed. However, Elon Musk has maintained a supportive stance toward the pioneering cryptocurrency, asserted in public appearances during President Trump’s 2024 campaigns.
SUBBD Presale Nears $1.5M as Elon Musk Sparks Interest in AI
Elon Musk’s $133 million SpaceX Bitcoin deal has reignited investor interest in emerging AI-based projects like SUBBD. SUBBD is designed to connect influencers, brands and digital communities, integrating advanced AI monetization tools.
SUBBD Presale
The ongoing SUBBD presale has now surpassed $1.3 million of its $1.4 million target, with tokens currently priced at $0.057. With the next pricing tier just over 48 hours away, potential participants can visit the official SUBBD pre-sale site to claim up to 20% staking rewards before the next phase begins.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with experience supporting various Web3 startups and financial organizations. He completed his undergraduate degree in Economics and is currently studying for a Master’s degree in Blockchain and Distributed Ledger technologies at the University of Malta.
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