Elon Musk's SpaceX moves millions in Bitcoin amid IPO reports

Elon Musk's SpaceX moves millions in Bitcoin amid IPO reports

Anand Sinha

Wed, December 10, 2025 at 12:57 PM EST

2 min read

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Tech tycoon Elon Musk's SpaceX has moved millions of dollars' worth of Bitcoin (BTC) as the aerospace and space transportation company is reportedly planning for an initial public offering (IPO) in 2026.

As Musk himself is a strong Bitcoin advocate, SpaceX began adding the digital asset to its balance sheet in 2021.

However, the company liquidated roughly 70% of its BTC holdings during the Terra-Luna collapse and FTX bankruptcy in 2022.

SpaceX reportedly plans an IPO

On Dec. 10, Bloomberg reported that SpaceX is moving ahead with IPO plans to raise over $30 billion at a valuation of approximately $1.5 trillion in what could be the biggest listing ever.

SpaceX's Starship rocket 38 launches during the 11th test flight on October 13, 2025 as seen from South Padre Island in Texas.

Though the space tech company is planning to go public by mid-to-late-2026, it could very well delay the IPO to 2027 depending on the conditions, the news report added.

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SpaceX again moves Bitcoin

As the report floated in the market, the on-chain analytics platform Lookonchain shared on X that the Musk-led company transferred 1,021 BTC worth roughly $94.48 million.

The company possibly moved Bitcoin to Coinbase Prime for custody, Lookonchain said.

This isn't the first time that SpaceX has moved Bitcoin recently. After July 24, the company has frequently moved the cryptocurrency to different custodians as routine transfers.

As per Arkham Intelligence, SpaceX's total holdings stood at 3,991 BTC worth more than $367 million at the time of writing.

Bitcoin, which hit a record high of $126,198.07 on Oct. 7, is still struggling to recover after more than two months. It was exchanging hands at $91,879.78 at press time, up 2% in the last 24 hours.

This story was originally published by TheStreet on Dec 10, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.

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