A Bitcoin wallet linked to SpaceX moved 1,308 BTC, worth about $153 million, after more than three years of no activity. The transaction came two days before Tesla’s second-quarter (Q2) earnings report, scheduled for July 23.
Blockchain analytics platform Lookonchain confirmed the transfer. The wallet’s last outgoing transaction was on June 10, 2022. The recent activity marked the first movement since then.
According to Arkham Intelligence, SpaceX still holds 6,977 BTC, valued at around $822.65 million. This makes it one of the largest private corporate holders of Bitcoin. Both SpaceX Bitcoin and Tesla Bitcoin reserves are under Coinbase Prime custody, a platform used by institutions to store crypto assets.
Tesla’s Earnings Add Focus on Crypto Holdings
As Tesla earnings approach, traders are watching whether the company made any changes to its Bitcoin balance in Q2. Tesla currently holds 11,509 BTC, worth around $1.36 billion, based on recent prices.
On July 18, traders placed over $47 million in net call options on Tesla stock, according to analyst Andrew Hiesinger. That same day, trader John Trades reported a $1.5 million purchase of TSLA 550 call options.
Investor Samsolid shared projections for Tesla’s revenue. Auto revenue could fall 19.6% year-over-year, while energy revenue might rise by 67%, and services by 15.3%. These changes reflect shifts in Tesla’s business model and may affect its income structure.
Analysts Track Tesla Bitcoin Strategy
With the SpaceX BTC transfer taking place so close to the Tesla earnings release, analysts are questioning whether Elon Musk’s companies made coordinated moves involving their crypto assets.
Ed Carson, a stock market journalist, highlighted key issues traders are considering. He wrote:
“A few Tesla earnings wildcards… Will Tesla change Bitcoin accounting for a 3rd straight quarter? Will Tesla take a ZEV credit rev hit in Q2 due to 2022- emission fines scrapped? Any Tesla Energy margin hit in Q2 from Trump tariffs?”
These points suggest that investors are closely following both corporate decisions and their impact on crypto holdings. So far, no official statement has been made by Elon Musk or his companies.
SpaceX Bitcoin Holdings Still Not on Public BTC List
Although SpaceX Bitcoin assets are significant, the company is not included in Bitcoin Treasuries data. This is because SpaceX is not publicly traded. However, its 6,977 BTC would place it among the top corporate holders of Bitcoin if listed.
Meanwhile, Tesla Bitcoin remains among the top ten public company holdings, ranked ninth by volume. Both firms use Coinbase Prime custody for secure crypto storage, as confirmed by Arkham Intelligence.
This setup allows tracking of large wallet movements. Platforms like Lookonchain and Arkham provide visibility into these changes, which can have wider implications for the market when timed with corporate reports.
