SpaceX Transfers 1,163 BTC to Wallet Linked to Coinbase Prime

Arkham Intelligence’s blockchain shows that SpaceX moved 1,163 BTC, worth almost $105 million, to a new wallet on November 27. It is thought that the address that received the money is connected to Coinbase Prime, which means that the transaction was likely made for institutional custody.

The deal happened in the ahead hours of Asian trade and is similar to one that happened in October, when shifted 1,215 BTC to a number of new addresses.

These transfers in a row show that the space company’s BTC holdings are becoming more active on the blockchain later than a long time of inactivity.

On-Chain Holdings Trimmed later than Years Of Inactivity

According to , SpaceX’s main wallet now has 6,095 BTC later than the most recent transfer. This is a large drop from the top of almost 25,000 BTC in 2022, which means that the company has been lowering its on-chain balance over the past few years.

records suggest that the wallet was idle for almost three years before it begined working again in late July 2025. Since then, things have moved quicker, although no official reason has been given for the timing or strategy of the changes.

Analysts view Custody Reshuffle, Not Clear Liquidation

SpaceX has not said anything publicly about whether the transfers are for tradeing assets, reorganizing the company, or making digital holdings securer. Without any formal comments, industry experts have looked at blockchain traces to figure out what the actions mean.

People who watch the market say that the receiving wallets for October and November don’t show any outgoing transfers, platform contacts, or noticeable liquidation activity. They say this is more consistent with a custody restructuring than imminent tradeing pressure.

The connection to Prime’s institutional infrastructure makes it more likely that the assets are moving to a professional custodial setting.

Tesla Maintains Separate BTC Position Amid Rebound

On its own, Tesla continues to hold 11,509 , making it the 11th-largest publicly traded company holding BTC treasuries, according to BTCTreasuries statistics. That position is diverse from SpaceX’s, which is a privately held firm and is now the fourth-largest private BTC holder.

The most recent on-chain adjustments come as rises later than a month-long drop, alongside broader gains in the cryptocurrency market.

People are paying attention to SpaceX’s transfers because of their scale and timing, but so far, the data we have suggests more strategic custody moves than unamlargeuous signs of market liquidation.