SpaceX has made headlines in the cryptocurrency world with a massive Bitcoin transaction worth $818 million, marking its first major crypto activity in three years. Blockchain data indicates the movement of 6,977 BTC from a dormant wallet, preceded by a test transfer from a Coinbase Prime-labeled address. While the final destination of the funds remains unconfirmed, on-chain analysis suggests sustained institutional interest in Bitcoin. This development has sparked significant market buzz, especially given Elon Musk's influence and SpaceX's re-entry into the crypto spotlight. The transaction underscores the growing intersection of traditional finance and digital assets, with Coinbase Prime playing a notable role in facilitating large-scale institutional moves.
SpaceX’s Massive Bitcoin Move Sparks Market Buzz
Elon Musk's SpaceX has re-entered the Bitcoin spotlight with a $152 million transaction, marking its first major crypto activity in three years. Blockchain data reveals the movement of 6,977 BTC (valued at $818 million) from a dormant wallet, preceded by a small test transfer from a Coinbase Prime-labeled address. The final destination of the funds remains unconfirmed, though on-chain trails point to continued institutional engagement.
Tesla, Musk's other flagship venture, maintains a larger BTC position at 11,509 coins ($1.35 billion). This coordinated crypto strategy across Musk's enterprises signals sustained corporate confidence in digital assets despite market volatility. The transaction's technical verification phase—characteristic of institutional-grade transfers—highlights growing sophistication in corporate crypto treasury management.
Coinbase Launches CFTC-Regulated Perpetual Futures for U.S. Traders
Coinbase Financial Markets has broken new ground by offering perpetual futures contracts to U.S. traders, effective July 21, 2025. These CFTC-regulated derivatives—nano bitcoin (BTC-PERP) and nano Ether (ETH-PERP)—eliminate monthly expirations while providing up to 10x leverage, mirroring instruments that drive 90% of global crypto volumes.
The MOVE resolves years of regulatory limbo that forced U.S. investors to watch international counterparts capitalize on these products. Coinbase's implementation emphasizes retail-friendly features, including continuous contracts and oversight by U.S. derivatives regulators—a stark contrast to offshore platforms.
SpaceX Moves $152 Million in Bitcoin After Three-Year Dormancy
SpaceX executed a significant Bitcoin transaction for the first time since 2022, transferring 1,308 BTC (approximately $152 million) to an unknown wallet. The move, tracked by Arkham Intelligence, has sparked speculation about whether the aerospace firm is preparing to sell its holdings.
The company still retains 6,977 BTC worth $815 million. Previous activity in June 2022 saw SpaceX send 3,505 BTC to Coinbase. Market observers note the funds remain unmoved—possibly indicating a security upgrade rather than an imminent sale.
Elon Musk's ventures have been active crypto participants since Tesla's landmark $1.5 billion Bitcoin purchase in 2021. Tesla later liquidated 75% of its position, while SpaceX wrote down $373 million in BTC value during the 2021-2022 bear market. Combined holdings across both companies once exceeded $2 billion at Bitcoin's $32,000 average entry price.
