SpaceX transferred another 1,021 BTC, valued at approximately $94.5 million, on December 10, 2025. This move aligns with ongoing efforts to consolidate its bitcoin holdings, as noted by analysts from Lookonchain. This transaction represents the ninth such transfer in 2025, totaling around 8,910 BTC, or about $924 million, moved primarily via Coinbase Prime. The funds were sent to two new, unnamed addresses, which analysts suggest may indicate a wallet reorganization rather than a specific purpose. Elon Musk first confirmed SpaceX's bitcoin ownership in July 2021. The company had previously reduced its holdings by roughly 70% amid market turmoil in mid-2022, following major events like the Terra-Luna collapse and FTX's failure. Arkham claims to have tracked SpaceX's bitcoin holdings down to 3,991 BTC across 28 addresses, although discrepancies exist with other data sources still indicating the original 8,285 BTC figure. Tesla, another Musk company, currently holds 11,509 BTC worth $1.24 billion after selling a significant portion of its holdings in 2022. These movements come as SpaceX prepares for a potential initial public offering (IPO) in 2026, aiming to raise over $30 billion and achieve a valuation of around $1.5 trillion. This IPO could rival Saudi Aramco's record 2019 offering. While the company hopes to debut in mid-to-late 2026, market conditions may affect the timeline, with some sources suggesting a possible delay into 2027.