Key Notes
- SpaceX wallets still retain 6,970 BTC worth $770.4 million split between cold storage and Coinbase Prime custody arrangements.
- Elon Musk posted Floki Inu content and X announced a Handles Marketplace ahead of potential crypto payment integration features.
- The transfer occurred during a week of heightened Musk crypto engagement, fueling speculation about institutional exposure adjustments.
Crypto wallets linked to Elon Musk‘s SpaceX were detected transferring $133.4 million worth of Bitcoin
BTC
$110 982
24h volatility:
1.2%
Market cap:
$2.21 T
Vol. 24h:
$49.73 B
on Friday, October 24, sparking instant market reactions.
On-chain data from analytics platform Arkham shows that the transfer occurred around 4:30 p.m. CET, when Bitcoin was trading near $111,200. Within hours, BTC briefly dipped to $109,938 before recovering toward $110,500 at press time.
Elon Musk’s SpaceX Spotted Moving Bitcoin Worth $133M | Source: Arkham
Large-scale movements from major institutional entities like SpaceX often stir speculation of imminent sell-offs, prompting traders to adopt a more cautious stance. The originating account still holds 6,970.45 BTC, valued at approximately $770.4 million, according to data from Arkham Intelligence. These holdings are reportedly split between cold storage and Coinbase Prime custody, suggesting any potential sale could be part of an ongoing exposure adjustment rather than a complete liquidation.
Elon Musk’s Week of Crypto Interactions Fuels Speculation
The $133 million BTC transfer coincides with a week of heightened interaction between Elon Musk and the online crypto community.
On October 20, Elon Musk posted a humorous video of Floki Inu, labeling the Shiba Inu-themed dog as the “CEO of X”, the social media platform he acquired in 2023.
Earlier in the week, X also unveiled plans for a “Handles Marketplace”, a platform designed to allow verified users to trade unused usernames, a move interpreted as a precursor to integrating Dogecoin
DOGE
$0.20
24h volatility:
1.9%
Market cap:
$29.92 B
Vol. 24h:
$1.44 B
or crypto-based payments within the platform.
The post reignited interest in Dogecoin and other Musk-linked meme tokens, briefly lifting DOGE trading volumes across major exchanges.
As a private company, SpaceX’s total Bitcoin holdings and reserve strategy remain undisclosed. However, Elon Musk has maintained a supportive stance towards the pioneer cryptocurrency, affirmed in public appearances during President Trump’s campaigns in 2024.
SUBBD Presale Nears $1.5M as Elon Musk Triggers AI Interest
Elon Musk’s SpaceX $133 million Bitcoin transaction has reignited investor interest in emerging AI-powered projects like SUBBD. SUBBD is built to connect influencers, brands, and digital communities, integrating advanced AI monetization tools.
SUBBD Presale
The ongoing SUBBD presale has now exceeded $1.3 million of its $1.4 million target, with tokens currently priced at $0.057. With the next pricing tier just over 48 hours away, prospective participants can visit the official SUBBD presale site to claim up to 20% staking rewards before the next phase begins.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
