SpaceX, led by Elon Musk, transferred 281 Bitcoin ($31 million) from Coinbase Prime custody to a new wallet. It’s unclear why they made the move, whether for storage, selling, or other purposes. Decrypt reached out for comment but received no response.

SpaceX now holds 8,285 BTC ($894 million), making it the fourth largest corporate Bitcoin treasury. Previously holding 25,000 BTC in 2022, they reduced their position to 8,285 BTC by June. This follows several large transfers last week after three years of no activity.

Tesla, under Elon Musk, has 11,509 BTC ($1.24 billion), just outside the top 10 publicly traded companies with Bitcoin treasuries. They benefited from new accounting rules, booking over $600 million in profits as Bitcoin prices rose. Their last on-chain activity was transferring holdings in October 2024.

Read more at Yahoo Finance: Elon Musk’s SpaceX Just Moved More of Its $894 Million Bitcoin Holdings