SpaceX moves $94M worth of Bitcoin as $30B IPO plans emerge

Elon Musk’s aerospace company SpaceX has moved $94 million worth of Bitcoin as it prepares for a potential $30 billion initial public offering (IPO) at a valuation of $1.5 trillion.

The transfer was reported by on-chain analytics firm Lookonchain which cited blockchain data from Arkham Intelligence. He said in an article on X that SpaceX moved 1,021 BTC worth approximately $94.48 million at the time of the transfer.

SpaceX(@SpaceX) just transferred 1,021 more $BTC($94.48 million), possibly to Coinbase Prime for safekeeping. pic.twitter.com/PwBIvD5RaR

– Lookonchain (@lookonchain) December 10, 2025

Lookonchain assumed that the Bitcoin was transferred to a wallet address linked to Coinbase Prime for safekeeping. If this is the case, this excludes the possibility of a sale being considered in the near future.

The recent transfer is not the first time SpaceX has moved its Bitcoin. Since July 24, the company has made several transfers to different depositories as part of routine transfers. None of them resulted in sales.

Even though the latest transfer is seen by many as another routine move, some are still anticipating a potential sale.

And SpaceX has already sold BTC. By mid-2022, the company shed around 70% of its holdings, likely due to a market-wide crash triggered by the Terra-Luna merger and FTX collapse.

Even after this sale, data from Arkham Intelligence shows that SpaceX holds over 8.2k BTC in its portfolio. At the current BTC price of around $90,245, the company’s crypto holdings are valued at over $722.181 million.

SpaceX BTC holdings (Source: Arkham Intelligence)

In the meantime, data from Bitcoin Treasuries shows that SpaceX is the fourth largest private company to hold BTC on its balance sheet, below Stone Bridge Holdings with 10,000 BTC, Tether Holdings Limited with 87,475,000 BTC and Block.one with 164,000 BTC.

SpaceX plans $30 billion IPO: Bloomberg

The timing of the transfer has attracted interest from market observers as it coincides with December 10. report from Bloomberg that the aerospace giant is moving forward with its IPO plans.

The report says it plans to raise $30 billion at a valuation of $1.5 trillion, which would make it one of the largest public raises in history.

Musk is already the richest person in the world with a net worth of $494.6 billion. according to at Forbes. He co-founded seven companies, including automaker Tesla and artificial intelligence startup xAI.

If the IPO occurs at a valuation of $1.5 trillion, its reported 42% stake in SpaceX alone would be valued at $630 billion.

Musk has been hinting at the IPO in the past 24 hours. On X, the social media platform he owns, he shared an article by Bloomberg reporter Eric Berger that included the caption: “Here’s why I think SpaceX will go public soon” and a link to an article he wrote.

As usual, Eric is precise

– Elon Musk (@elonmusk) December 10, 2025

Quoting the post, Musk wrote: “As usual, Eric is right. »

If SpaceX does indeed go public, it will be ranked as the 14th largest publicly traded BTC holder, placing it above Strive with its holdings of over 7.5k Bitcoin and below Block Inc. with its holdings of over 8.7k BTC.

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