Elon Musk openly talked about his regret over the DOGE initiative while SpaceX transferred 1021 BTC.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
SpaceX moved a large batch of Bitcoin BTC $91 877 24h volatility: 1.6% Market cap: $1.84 T Vol. 24h: $54.88 B once again this month. Lookonchain reported a fresh transfer of 1,021 BTC worth about $94.48 million and said that the transaction is likely linked to Coinbase Prime.
The aerospace company could be transferring a part of its holdings into institutional custody as blockchain data shows a pattern of similar movements. On Dec. 5, a transfer of more than 1,000 BTC went to a new, unused address.
SpaceX(@SpaceX) just transferred out another 1,021 $BTC($94.48M), to possibly Coinbase Prime for custody.https://t.co/zW62EKM2RD pic.twitter.com/PwBIvD5RaR
— Lookonchain (@lookonchain) December 10, 2025
As of now, SpaceX’s known wallet holds roughly $368.8 million worth of Bitcoin. The company’s earlier transfer on Nov. 26 sent 1,163 BTC to two new wallets. 399 BTC went to address “bc1qh…galzy” and 764 BTC to “bc1q4…u54ez.” This was the first large movement since October 29, when 281 BTC left a tracked wallet.
SpaceX crypto wallet transactions | Source: Arkham
In a recent podcast with Katie Miller, SpaceX CEO Elon Musk spoke openly about his time leading President Donald Trump’s Department of Government Efficiency, known as DOGE.
Musk said that the initiative managed to stop wasteful spending but admitted that the project came with heavy backlash both politically and personally. He claimed that Tesla faced vandalism and public protests during the effort.
The billionaire explained that he would not return to DOGE and said he wishes he had spent that time focusing on Tesla and SpaceX instead. Interestingly, Musk was heavily involved in Trump’s second term during the early days.
However, investors criticized because they felt he was distracted during a period of slowing Tesla sales, Musk added.
DOGE was disbanded eight months before its mandate ended. The agency claims tens of billions in savings with little publicly verifiable accounting.
SpaceX is pursuing a record-breaking initial public offering. According to Bloomberg, the company hopes to raise more than $30 billion in a listing that may arrive as soon as mid-to-late 2026.
SpaceX is targeting a valuation of around $1.5 trillion which places it near Saudi Aramco. On the other hand, recent insider share sales have already priced the company above $800 billion.
The bulk of SpaceX’s future revenue is expected to come from Starlink, which could generate between $22 billion and $24 billion in 2026. The company also plans to invest heavily in space-based data centers and direct-to-cell services powered by Starlink satellites.
Bloomberg noted that if SpaceX sells even 5% of its equity during the IPO, it would surpass all previous listings in size.
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A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
