SpaceX has made an on-chain Bitcoin transaction for the first time in a long while. The company sent a test transfer of $88 between two of its labeled addresses.
The amount is, of course, microscopic compared to the corporation's total balance. According to the latest reports, SpaceX holds 18,712 BTC in its accounts. Elon Musk, as is well known, dislikes fuss: his companies typically only touch their reserves at moments when it becomes noticeable to the market.
Internal reshuffling or preparation for something bigger?
Analysts have recorded the movement of a small amount from an address starting with "15atF" to a new one — "bc1q9". This is a standard procedure when changing storage: first, a small amount is sent to verify the new address, and then the bulk is transferred.
SpaceX has used this scheme before. In October 2025, after a long pause, the company moved 2,495 BTC ($257 million) to two new wallets. And in July 2025, it placed $300 million in custody with Coinbase Prime. Traders also remember past sales: during the market downturn in 2022, SpaceX sold off two large batches of coins. For comparison, Tesla's balance of 11,509 BTC has remained unchanged since 2024.
No signs of selling — balance preserved
The key point: no signals for a sale have been recorded at the moment. According to BitcoinTreasuries data, SpaceX still owns 18,712 BTC — the amount has not changed since the publication of the S-1 report on May 21. This document, by the way, forced analysts to revise their estimates: previously, they believed SpaceX had about 8,285 BTC, but the disclosed documents revealed an additional 10,427 BTC that were previously untracked. Arkham labels show less than half of the actual volume.
Control is concentrated in one pair of hands. Elon Musk's share exceeds 85%, so any operations with assets depend solely on his decisions. The timing of the publication adds intrigue: this week, SpaceX shares entered the Nasdaq-100 index, and Bitcoin is trading around $62,000 — roughly half of the October high of $126,000. The current reserve is valued at $1.2 billion, compared to $1.45 billion at the time of data disclosure.
Information about wallets quickly impacts sentiment. Last week, a report on larger sales by MicroStrategy sparked a wave of discussions. Meanwhile, operations with old Bitcoin addresses typically indicate consolidation rather than selling.
My analysis: The $88 test transfer is most likely a routine internal operation, not a signal for a sell-off. However, the new address "bc1q9" is now under close scrutiny. If large transactions follow from it in the coming days, it will mean the start of a real asset reshuffling. For now, the market can breathe a sigh of relief — Musk is probably just updating his crypto infrastructure.