SpaceX quietly shifted 1,163 BTC to a Coinbase Prime-linked wallet, sparking speculation about a strategic custody reshuffle. With holdings now at 6,095 BTC, analysts say it’s restructuring.

Blockchain data shows that SpaceX has transferred 1,163 bitcoin, worth around $105 million at the time of the move, from its long‑tracked treasury wallet to a new address linked by analysts to Coinbase Prime, the institutional arm of U.S. exchange Coinbase. The transaction, detected by Arkham Intelligence and other on‑chain trackers, took place during early Asian trading hours on Nov. 27 and follows a similar restructuring move in October, when SpaceX sent 1,215 BTC to multiple new addresses also believed to be tied to Coinbase’s institutional custody infrastructure. These transactions mark a continuation of SpaceX’s renewed on‑chain activity after roughly three years of dormancy, during which the company’s known wallet did not move funds until late July 2025. Public blockchain records and treasury trackers indicate SpaceX once held about 25,000 BTC on‑chain in 2022 but has since consolidated and reduced its visible balance to about 6,095 BTC following the latest transfer, placing it among the largest private corporate bitcoin holders. Analysts cited in industry reports say the pattern—large transfers into Coinbase Prime‑associated wallets with no subsequent outgoing activity—points to a custody reorganization or security upgrade rather than active liquidation, although SpaceX has not made any public statement clarifying whether the moves are tied to sales, internal restructuring, or risk management. The activity is being closely watched because sizable shifts by major corporate holders like SpaceX can affect market sentiment around institutional bitcoin adoption and treasury strategies. "entities":["SpaceX","Bitcoin (BTC)","Coinbase Prime","Coinbase","Arkham Intelligence","BitcoinTreasuries","Tesla"]}'}')}Note: The above appears to be extra text added due to a formatting issue, and the actual intended JSON response is:`json{

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