Key Takeaways
- On July 22, a wallet linked to SpaceX moved 1,308 BTC, worth over $150 million, marking its first on-chain activity since June 2022.
- With over $800M in bitcoin, SpaceX joins a growing list of firms with sizable BTC treasuries.
- While BTC remains dominant, Ethereum is emerging as a strategic treasury asset.
Elon Musk’s SpaceX now holds approximately $810 million in bitcoin after making a transfer, ending a three-year period of inactivity in its holdings.
The move, representing just over $150 million worth of BTC, has raised questions about what SpaceX may be planning with its assets.
SpaceX Moves Bitcoin Holdings
On Tuesday, July 22, a wallet reportedly belonging to SpaceX moved $150 million worth of BTC, according to data from blockchain analytics platform Arkham. This was the wallet’s first on-chain activity in over three years.
The last transfer took place on June 10, 2022, when the firm moved 3,505 BTC to Coinbase.
According to Arkham data, the wallet moved 1,308 BTC from address 15oKQ7…i7Jf1G, previously identified as SpaceX’s wallet, to an inactive address, bc1q8k…phartf.
As of the time of reporting, no further movement has been observed.
SpaceX Holds Over $800M
Following the transfer, SpaceX still holds approximately 6,977 BTC, valued at around $815 million.
This positions Musk’s SpaceX among the largest corporate holders of bitcoin, as firms continue to add the digital asset to their treasuries.
MicroStrategy currently leads as the largest corporate holder of bitcoin, with 607,770 BTC worth approximately $72.3 billion at current market prices.
Michael Saylor, former CEO and now executive chairman, has remained committed to his bitcoin strategy since the firm’s first purchase in August 2020.
“This investment reflects our belief that Bitcoin, as the world’s most popular cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash,” he said in 2020.
Ethereum Treasury Strategies
While bitcoin treasuries continue to draw attention, quiet shifts suggest Ethereum may be emerging as a favored asset in corporate strategy.
Leading this shift is the digital asset platform Bit Digital, a company that previously focused on building a bitcoin treasury.
On Friday, July 18, Bit Digital announced it had purchased approximately 19,683 ETH, bringing its total holdings to 120,306 ETH.
“With approximately 120,000 ETH, Bit Digital is positioned among the largest institutional Ethereum treasuries in the public markets,” said Sam Tabar, Chief Executive Officer of Bit Digital.
“We view Ethereum as foundational to the next phase of digital financial infrastructure,” he added.
Meanwhile, SharpLink Gaming, a sportsbook marketing firm, has become the largest publicly traded company to adopt ETH as its primary treasury asset.
During the week of June 28 through July 4, 2025, the company acquired 7,689 ETH at an average price of $2,501.
BlackRock, the world’s largest asset manager, has also continued to accumulate ETH.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
