Why is Elon Musk mixing BTC ahead of SpaceX IPO rumor?

What is going on with SpaceX and its Bitcoin (BTC) holdings? The private company has been in the news for some time regarding its BTC reshuffling activities, and has once again made the news for the same reason.

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Bitcoin
BTC

$90,394.99


2.57%

Bitcoin
BTC


Price

$90,394.99

2.57% /24h





Volume in 24 hours

$47.33 billion



Price 7d

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holdings, worth over $94 million, on December 10, 2025. All this BTC shuffling activity took place as the company prepares for a possible IPO in 2026.

Online blockchain detectives at Arkham Intelligence spotted this move early, claiming that SpaceX-linked wallets were sending approximately 1,021 BTC to two different addresses, split into 407 and 614 BTC.

SPACEX JUST MOVED $94M $BTC

SpaceX just transferred $94 million worth of BTC. They have been moving around $100 million worth of BTC every week for around 2 months now.

Of this transfer, $37.66 million was transferred to a new address, while $56.82 million was changed. pic.twitter.com/LVPg3037w4

-Arkham (@arkham) December 10, 2025

“SpaceX just moved $94 million worth of BTC. They’ve been moving about $100 million worth of BTC every week for about two months now,” Arkham posted on X.

SpaceX or Elon Musk have not yet made any comments on this subject.

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From 25,000 BTC to 8,285: SpaceX reduces its cryptocurrency reserves

Interestingly, SpaceX has not touched its BTC stash for over three years. However, earlier this year he started moving his pieces around more frequently. This recent BTC shakeup came just a week after moving around $100 million worth of BTC.

BREAKING: SPACEX JUST MOVED BITCOIN FOR THE FIRST TIME IN 3 YEARS

They sent 1.3K BTC ($153 million) to a new address this morning.

Recycle custodial wallets or move to sell? pic.twitter.com/bFkhkjYdho

-Arkham (@arkham) July 22, 2025

In 2022, SpaceX’s BTC holdings were huge. The company held 25,000 BTC, which has since decreased in size, and as of December 10, 2025, SpaceX held 8,258 BTC, valued at approximately $770 million.

This makes SpaceX the fourth largest private company holding BTC, and if it went public it would rank as the 14th largest BTC holder.

SpaceX reduced its BTC holdings by around 70% after the broader crypto landscape was shaken by the Terra-Luna crash and FTX bankruptcy.

On the other hand, Tesla, another company owned by Musk, still holds over 11,500 BTC worth $1 billion at current prices. Combined, Musk-linked companies control more than $1.4 billion in BTC.

(Source: Bitcoin Treasures)

For the most part, the recent transfers look like routine cash management tasks. SpaceX is moving its BTC to new self-custody wallets rather than selling the assets. Additionally, there is no record of foreign exchange deposits.

DATs like Strategy often move large chunks of BTC for custodial upgrades, so in that regard, SpaceX shuffling its BTC seems perfectly normal.

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SpaceX IPO plans to eclipse Saudi Aramco listing in 2019

If recent discussions are to be believed, SpaceX could launch its IPO as early as mid-to-late 2026, although some insiders believe this could extend into 2027 depending on market conditions.

According to a Bloomberg report, the company plans to raise over $30 billion, with a target valuation of around $1.5 trillion, which is crazy. The numbers are big enough to beat Saudi Aramco’s massive $29 billion listing in 2019.

Now, for investors considering getting in on the action, an investment in SpaceX would obviously involve exposure to the Starlink rockets, satellites, and internet side. This would also include exposure to the company’s crypto holdings.

Market forecasts (currently at 67%) already factor in the chances of the IPO reaching a valuation above $1 trillion.

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The post Why is Elon Musk mixing BTC ahead of SpaceX IPO rumor? appeared first on 99Bitcoins.

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