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Is Elon Musk’s SpaceX Really Selling Its Bitcoin, Or Is It Just FUD?

SpaceX’s recent Bitcoin transfers have sparked fresh debate across crypto markets, with Twitter speculation claiming the company may be preparing to sell. 

However, on-chain data suggests a more nuanced picture, and there is no confirmed evidence of liquidation.

SpaceX Bitcoin Sell Fears

Arkham data shows SpaceX moved around 2,246 BTC in the past 12 hours and one week prior. 

The transfers include two large outflows totaling over $200 million, alongside several small inbound transactions from Coinbase Prime.

The Transfer that Sparked SpaceX Bitcoin Sell Rumors. Source: Arkham

The company still holds over 5,012 BTC, valued at roughly $448 million. That means less than half of SpaceX’s tracked Bitcoin has moved, despite viral claims that the company transferred “all” of its holdings.

Crypto Twitter rushed to interpret the outflows as imminent selling. Social media posts argued that fund movement from treasury wallets to new addresses signals a liquidation event, a behaviour often seen before corporate selloffs.

However, the receiving wallets are not labelled as exchanges, and no direct link to Binance, Coinbase or OTC liquidation desks has been confirmed. 

This weakens the assumption that the transfers represent a planned dump.

There are also neutral explanations. SpaceX could be rotating wallets for security, consolidating funds, or shifting custody structure. Corporate treasuries regularly rebalance or upgrade storage without selling.

Also, this move could even be interpreted as potentially bullish. Funds may be headed toward OTC desks or multi-sig vaults instead of sell-side liquidity pools, which would apply no immediate market pressure.

SpaceX Bitcoin Holdings. Source: Arkham

Today, Bitcoin has dropped below $90,000 again, but it was mostly driven by US ETF outflows and macro fears from the Bank of Japan increasing interest rates. 

For now, SpaceX’s activity is notable, but not conclusive. Until the destination wallets link to a known exchange or distribution pattern appears, the claim that Elon Musk’s space giant is selling Bitcoin remains unproven.

The line between fear and fact is thin, and today, the noise is louder than the data.