SpaceX Moves 1,021 Bitcoin to Coinbase Prime in Latest Transfer

TLDR

• SpaceX transferred 1,021 BTC worth approximately $94.48 million to addresses linked to Coinbase Prime on December 10, 2025
• The company has been moving around $100 million in Bitcoin weekly for roughly two months after three years of dormancy
• SpaceX currently holds 8,285 BTC valued at about $770 million, making it the fourth-largest private company Bitcoin holder
• Bloomberg reports SpaceX is planning a potential IPO in mid-to-late 2026 that could raise over $30 billion at a $1.5 trillion valuation
• Elon Musk stated in a recent podcast that he regrets his time with DOGE and will not return to the initiative

SpaceX moved 1,021 Bitcoin on December 10, 2025, in a transaction worth approximately $94.48 million. Blockchain analytics firm Arkham Intelligence identified the receiving addresses as likely connected to Coinbase Prime, a platform designed for institutional trading and custody.

The transfer split the Bitcoin into two portions. One address received 407 BTC while another got 614 BTC. Both addresses showed no previous activity before receiving the funds.

This marks the latest in a series of large Bitcoin movements from SpaceX. The company has been transferring around $100 million in Bitcoin weekly for about two months. Before this pattern began, SpaceX had not touched its Bitcoin holdings for three years.

On December 5, the company moved more than 1,000 BTC to a new address. On November 26, SpaceX transferred 1,163 BTC split between two wallets with 399 BTC going to one and 764 BTC to the other. An earlier transfer on October 29 involved 281 BTC.

SpaceX has not provided any explanation for these transactions. The company did not respond to requests for comment about the recent transfers or whether they relate to any upcoming corporate plans.

According to BitcoinTreasuries.net, SpaceX currently holds 8,285 BTC valued at approximately $770 million as of December 10. This positions the company as the fourth-largest private corporate Bitcoin holder. If SpaceX maintains this position after going public, it would rank as the 14th largest holder overall.

SpaceX IPO Plans and Valuation

Bloomberg reported that SpaceX is preparing for a potential initial public offering. The aerospace company aims to raise more than $30 billion through the listing. The IPO could occur as soon as mid-to-late 2026.

The report stated SpaceX is targeting a valuation of around $1.5 trillion. Recent insider share sales have already valued the company above $800 billion. If SpaceX sells just 5% of its equity, the offering would exceed all previous IPOs in size.

At its peak in 2022, SpaceX held as much as 25,000 BTC. The company’s Bitcoin holdings have decreased over the years. The current holdings of 8,285 BTC represent about one-third of the peak amount.

Musk Comments on Government Role

Elon Musk spoke about his involvement with the Department of Government Efficiency in a recent podcast interview with Katie Miller. The initiative used the acronym DOGE, which also refers to the Dogecoin cryptocurrency.

Musk said the effort helped stop some wasteful government spending. He also described facing heavy criticism from both political opponents and the public. The Tesla CEO claimed his electric vehicle company experienced vandalism and protests during his time with the initiative.

Musk stated he would not return to DOGE. He said he wished he had focused that time on Tesla and SpaceX instead.

Polymarket showed active trading on SpaceX’s potential IPO valuation. The prediction market indicated a 67% probability that the company’s market cap could surpass $1 trillion. These odds represent trader positions rather than official company projections.

Bitcoin recently traded around $92,287 after recovering from a dip to nearly $81,000 in November. The cryptocurrency remains about 27% below its October 2024 all-time high above $126,000.

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