Elon Musk’s SpaceX is back in the crypto spotlight after shifting another $100 million worth of Bitcoin (BTC), according to fresh on-chain data flagged by Lookonchain earlier today. The move immediately stirred conversation across the crypto community, especially given the company’s history of making large, attention-grabbing Bitcoin transactions.

A Familiar Pattern of Big Bitcoin Movements

On-chain sleuth Lookonchain has reported a huge BTC transaction involving Elon Musk’s aerospace manufacturer SpaceX. According to Lookonchain, SpaceX moved 1,083 BTC worth about $100 million to Coinbase Prime for possible custody purposes. The blockchain tracker revealed this information in an X-post, highlighting a screenshot from Arkham Intelligence that shows the BTC movement occurred in a single transaction.

Meanwhile, this is not the first time SpaceX has made waves with major crypto transfers. Over the past few months, the aerospace giant has quietly established a reputation for transferring large amounts of Bitcoin between various wallets.

Interestingly, Lookonchain reported in October that SpaceX had moved 2,495 BTC, worth approximately $268 million. Additionally, Arkham Intelligence had also earlier that month reported that the firm held over $1 billion worth of BTC. 

Market Reacts, But No Panic This Time

Even without public commentary from Elon Musk, wallet activity linked to his companies tends to spark instant speculation. And with Bitcoin trading in a tight range recently, any movement involving a major corporate holder can create temporary waves.

Nonetheless, the market appears unfazed as Bitcoin continues to trade around the $91,000 region and Ethereum retains its hold above the $3,000 level. 

Is SpaceX Preparing for Something Bigger?

Meanwhile, the crypto community remains divided on whether SpaceX’s recent BTC movement is a bid to increase its Bitcoin exposure or simply a treasury-tightening operation. With more U.S. companies adding Bitcoin to their balance sheets in 2025, the aerospace manufacturer may be positioning itself for the long game, especially as global demand for BTC strengthens through spot ETFs and macro uncertainty.

On the other hand, the move could also be tied to SpaceX’s expanding infrastructure needs, from Starship development to global Starlink deployments. Bitcoin-backed financing is becoming more common, and it would not be far-fetched for SpaceX to leverage some of its holdings.

Regardless, market experts like Arthur Hayes are confident that Bitcoin will experience a sporadic surge in value in 2026, and the firm could be positioning itself for the projected increase in value. Nevertheless, neither Elon Musk nor SpaceX has made any official statement regarding the BTC transfer.