SpaceX has transferred 1,308 Bitcoin—worth roughly $153 million—in its first onchain movement in over three years. The transaction was flagged by Arkham Intelligence, which monitors blockchain activity tied to corporate wallets. The BTC was withdrawn from 16 legacy addresses and consolidated into a modern SegWit address, a move typically aimed at improving fund management and reducing transaction costs.

This marks the company’s first visible crypto-related action since disclosing its Bitcoin holdings in 2021. The reason behind the transfer remains unknown, but analysts suggest it’s likely a strategic decision, not a panic move. Elon Musk and SpaceX have yet to comment publicly.

The timing of the transaction is noteworthy. It comes as SpaceX faces growing pressure from the U.S. government. In June, the Trump administration reportedly considered reviewing or canceling $22 billion in federal contracts with SpaceX amid a public feud between Musk and Trump. While most deals were ultimately preserved due to national security interests, the tension triggered Pentagon plans to diversify providers for the Golden Dome defense initiative, a $175 billion satellite-based missile tracking system.

Meanwhile, Musk’s broader crypto ambitions continue to evolve. Since his memecoin-fueled tweets in 2021, Tesla’s brief foray into Bitcoin payments, and the acquisition of Twitter (now X), Musk has quietly expanded crypto infrastructure. X has secured multiple money transmitter licenses and hinted at a native crypto wallet.

According to VC investor Chamath Palihapitiya, SpaceX has also adopted stablecoins for collecting Starlink payments in emerging markets, avoiding banking delays by using blockchain rails. With an estimated 6,977 BTC on its books—worth around $815 million—SpaceX is now among the world’s largest corporate Bitcoin holders.