SpaceX's Routine Bitcoin Maintenance Fuels Speculation

SpaceX's bitcoin wallet activity resumed after six months of inactivity, sparking speculation about potential sales. However, an analysis of on-chain data reveals that the company's small transactions, totaling less than $300, were part of routine maintenance and not a signal for any change in its treasury posture.

The largest transfer was 0.00213 BTC (~$135) between two SpaceX-tagged wallets, while another transaction shifted 0.00139 BTC (~$89). Additionally, Coinbase Prime's custody service sent 0.000738 BTC (~$47) to a SpaceX address, a common practice for pre-funding network fees.

SpaceX currently holds 18,712 BTC, worth approximately $1.16 billion, which was publicly disclosed for the first time in its June 12 IPO filing. Prior to this disclosure, on-chain trackers had only attributed about 8,285 BTC to the company.