Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:01):
Hey everybody. Welcome back to the Elon Musk
Podcast. This is a show where we discuss
the critical crossroads that shape SpaceX, Tesla X, The
Boring Company, and Neurolink. I'm your host, Will Walden.
SpaceX just moved 2495 Bitcoin worth of about $268 million on
(00:24):
October 21st, and then moved another 1215 Bitcoin worth about
133.7 million on October 24th. Arkham Intelligence data links
both waves to wallets tagged forSpace XI.
See big money shifting on the chain and I want to know whether
(00:45):
this points to treasury reorganization or something
closer to market intent. SpaceX executed the first
transfer, about a three month pause in on chain activity tied
to its labeled wallet. Company sent 2495 Bitcoin to two
fresh addresses with no prior history.
(01:06):
It's a pattern that often indicates a clean segregation of
funds. The structure reduces
counterparty exposures and simplifies audit trails for
internal teams. Four days later, SpaceX pushed
another 1215 Bitcoin to new wallets.
Multiple trackers recorded the value at around 133.7 million at
(01:28):
the time of movement. A second wave made the sequence
hard to dismiss as a one off housekeeping task, so I checked
for any simultaneous flows to exchanges that might hint at
near term selling and one outletflagged a dust level transfer of
about $150.00 to Coinbase Prime,which reads like a test rather
(01:51):
than any sort of serious routingof liquidity.
Now the dominant path still shows fresh self custody
destinations and these transferslanded as Elon Musk re entered
the Bitcoin conversation on X with terse support for energy
based valued claims. His posts revived attention on
corporate holdings linked to hiscompanies and put fresh context
(02:15):
around treasury moves. Now we can link these posts to
sentiment shifts even without explicit guidance directly from
SpaceX. Now, I looked for a current
estimate of Spacex's remaining stack because sizing matters for
risk, and one tracker Peg's holdings near 6970 Bitcoin after
(02:37):
recent consolidations, while another snapshot around the
first transfer suggested around 5790 Bitcoin.
The gap likely comes from tagging differences in the
timing of balance calculations, though.
O the price. Here we have to think about the
(02:57):
price. Bitcoin traded near 6, figures
during the week of these moves, and intraday swings followed
news sikes about Musk's commentsin the wallet activity.
Big treasuries often tighten operational controls when
volatility rises because sentiment risk increases with
each basis point of movement, and the transaction design
(03:20):
points to internal treasury hygiene rather than distribution
into the market. Though SpaceX used new addresses
that did not previously transactand it split flows into clean
buckets. Institution uses pattern to
rotate keys, refresh custody setups, and compartmentalize
access rights. It looks like it's internal
(03:42):
housekeeping basically. And so I went ahead and I
weighed the alternative. The SpaceX prepared an over the
counter sale. The lack of meaningful exchange
inflows during these windows andthe absence of immediate follow
on spends from the recipient wallets weakens that case
altogether. OTC desks also prefer sediment
(04:03):
structures that leave clearer fingerprints on custodial rails.
Now, Musk's commentary adds a narrative to all of this that
makes immediate liquidation lessintuitive.
You amplified A thesis that tiesBitcoin's value to energy and
scarcity, which aligns withholding behavior not to
(04:23):
distribute his funds the the bitcoins from SpaceX treasury
and messaging. They don't always sync up, but
the alignment here matters. For inference.
I also tested the timing againstprior SpaceX wallet activity.
The last large on chain event before October came in late
(04:44):
July, with roughly $153 million moving to a new address after
years of dormancy. The gap between July and October
supports a cadence of periodic key rotation and consolidation.
So they do this every once in a while.
I'll. What suspends from now on and
(05:05):
see what SpaceX does. See if they spend any of this if
they selling of it off a clean hold pattern over the next few.
Weeks. Would validate the reorg thesis
while. Staged.
Hops into prime broker roots, which shift the probability
toward a greater distribution. For now, though, the change
(05:29):
shows structured movement in fresh custody endpoints.
We can't really make any determinations, though, other
than it's fresh. And we can take a look at this
in a few weeks and I'll report back to you.
So you know, SpaceX restructureda pretty big Bitcoin position
across new Willits during a kindof volatile week, but you
(05:52):
wouldn't expect them to do except they're just moving it
over to New Orleans as far as weknow.
And this flow fits treasury organization more than disposal.
So I have a question for you. If you're new to the show,
Actually, this is a a thank you for you.
(06:12):
If you're new to the show and you're just here first time.
Thank you for clicking on the show and taking a risk and
listening to the show. I appreciate it.
My name is Will. I am the host of the show.
Been doing this for, I think it's going on five years now and
I've been trying to keep up to date with all the Elan news
(06:33):
since day one. They started this thing.
I've been podcasting since 2006.I've just went back and looked
at all my history of what I've been doing it with my podcast.
I have had a podcast since 2006,so I've been here for a very
long time. All right now this podcast is
about four or five years old, over 1000 episodes.
(06:53):
I do this every single day, and I'm going to ask you for a
favor. It'll take you maybe 5 seconds.
I'm going to give you the next 5-10, fifteen years of this show
for free. All you have to do is hit the
follow or subscribe button on whatever podcast platform you're
on, right? Now.
And my promise to you is that I'm going to continue making
(07:16):
these shows and I'm going to continue making the better
because right now we are growingon Spotify.
We're growing on Apple Podcasts and all the other podcast
platforms too. We have a huge tailwind on us
and I need your help and anybodywho's been here for a while.
If you could. Please give us a five star
review that would really help. Any sort of reviews on any
podcast platforms. They really do help.
(07:38):
If you like the show please let me know by giving a positive
review to the show. That would really help.
I just need your help for these few things and that's about it.
Now let's hear the outro, everybody.
Hey, thank you so much for listening today.
I really do appreciate your support.
If you could take a second and hit the subscribe or the follow
(08:01):
button on whatever podcast platform that you're listening
on right now, I greatly appreciate it.
It helps out the show tremendously and you'll never
miss an episode. And each episode.
Is about 10 minutes or less. To get you caught up.
Quickly and please, if you want to support the show even more,
go to patreon.com slash. Stage 0.
(08:21):
And please take care of yourselves and each other, and
I'll see you tomorrow.
Hey everybody. Welcome back to the Elon Musk
Podcast. This is a show where we discuss
the critical crossroads that shape SpaceX, Tesla X, The
Boring Company, and Neurolink. I'm your host, Will Walden.
SpaceX just moved 2495 Bitcoin worth of about $268 million on
(00:24):
October 21st, and then moved another 1215 Bitcoin worth about
133.7 million on October 24th. Arkham Intelligence data links
both waves to wallets tagged forSpace XI.
See big money shifting on the chain and I want to know whether
(00:45):
this points to treasury reorganization or something
closer to market intent. SpaceX executed the first
transfer, about a three month pause in on chain activity tied
to its labeled wallet. Company sent 2495 Bitcoin to two
fresh addresses with no prior history.
(01:06):
It's a pattern that often indicates a clean segregation of
funds. The structure reduces
counterparty exposures and simplifies audit trails for
internal teams. Four days later, SpaceX pushed
another 1215 Bitcoin to new wallets.
Multiple trackers recorded the value at around 133.7 million at
(01:28):
the time of movement. A second wave made the sequence
hard to dismiss as a one off housekeeping task, so I checked
for any simultaneous flows to exchanges that might hint at
near term selling and one outletflagged a dust level transfer of
about $150.00 to Coinbase Prime,which reads like a test rather
(01:51):
than any sort of serious routingof liquidity.
Now the dominant path still shows fresh self custody
destinations and these transferslanded as Elon Musk re entered
the Bitcoin conversation on X with terse support for energy
based valued claims. His posts revived attention on
corporate holdings linked to hiscompanies and put fresh context
(02:15):
around treasury moves. Now we can link these posts to
sentiment shifts even without explicit guidance directly from
SpaceX. Now, I looked for a current
estimate of Spacex's remaining stack because sizing matters for
risk, and one tracker Peg's holdings near 6970 Bitcoin after
(02:37):
recent consolidations, while another snapshot around the
first transfer suggested around 5790 Bitcoin.
The gap likely comes from tagging differences in the
timing of balance calculations, though.
O the price. Here we have to think about the
(02:57):
price. Bitcoin traded near 6, figures
during the week of these moves, and intraday swings followed
news sikes about Musk's commentsin the wallet activity.
Big treasuries often tighten operational controls when
volatility rises because sentiment risk increases with
each basis point of movement, and the transaction design
(03:20):
points to internal treasury hygiene rather than distribution
into the market. Though SpaceX used new addresses
that did not previously transactand it split flows into clean
buckets. Institution uses pattern to
rotate keys, refresh custody setups, and compartmentalize
access rights. It looks like it's internal
(03:42):
housekeeping basically. And so I went ahead and I
weighed the alternative. The SpaceX prepared an over the
counter sale. The lack of meaningful exchange
inflows during these windows andthe absence of immediate follow
on spends from the recipient wallets weakens that case
altogether. OTC desks also prefer sediment
(04:03):
structures that leave clearer fingerprints on custodial rails.
Now, Musk's commentary adds a narrative to all of this that
makes immediate liquidation lessintuitive.
You amplified A thesis that tiesBitcoin's value to energy and
scarcity, which aligns withholding behavior not to
(04:23):
distribute his funds the the bitcoins from SpaceX treasury
and messaging. They don't always sync up, but
the alignment here matters. For inference.
I also tested the timing againstprior SpaceX wallet activity.
The last large on chain event before October came in late
(04:44):
July, with roughly $153 million moving to a new address after
years of dormancy. The gap between July and October
supports a cadence of periodic key rotation and consolidation.
So they do this every once in a while.
I'll. What suspends from now on and
(05:05):
see what SpaceX does. See if they spend any of this if
they selling of it off a clean hold pattern over the next few.
Weeks. Would validate the reorg thesis
while. Staged.
Hops into prime broker roots, which shift the probability
toward a greater distribution. For now, though, the change
(05:29):
shows structured movement in fresh custody endpoints.
We can't really make any determinations, though, other
than it's fresh. And we can take a look at this
in a few weeks and I'll report back to you.
So you know, SpaceX restructureda pretty big Bitcoin position
across new Willits during a kindof volatile week, but you
(05:52):
wouldn't expect them to do except they're just moving it
over to New Orleans as far as weknow.
And this flow fits treasury organization more than disposal.
So I have a question for you. If you're new to the show,
Actually, this is a a thank you for you.
(06:12):
If you're new to the show and you're just here first time.
Thank you for clicking on the show and taking a risk and
listening to the show. I appreciate it.
My name is Will. I am the host of the show.
Been doing this for, I think it's going on five years now and
I've been trying to keep up to date with all the Elan news
(06:33):
since day one. They started this thing.
I've been podcasting since 2006.I've just went back and looked
at all my history of what I've been doing it with my podcast.
I have had a podcast since 2006,so I've been here for a very
long time. All right now this podcast is
about four or five years old, over 1000 episodes.
(06:53):
I do this every single day, and I'm going to ask you for a
favor. It'll take you maybe 5 seconds.
I'm going to give you the next 5-10, fifteen years of this show
for free. All you have to do is hit the
follow or subscribe button on whatever podcast platform you're
on, right? Now.
And my promise to you is that I'm going to continue making
(07:16):
these shows and I'm going to continue making the better
because right now we are growingon Spotify.
We're growing on Apple Podcasts and all the other podcast
platforms too. We have a huge tailwind on us
and I need your help and anybodywho's been here for a while.
If you could. Please give us a five star
review that would really help. Any sort of reviews on any
podcast platforms. They really do help.
(07:38):
If you like the show please let me know by giving a positive
review to the show. That would really help.
I just need your help for these few things and that's about it.
Now let's hear the outro, everybody.
Hey, thank you so much for listening today.
I really do appreciate your support.
If you could take a second and hit the subscribe or the follow
(08:01):
button on whatever podcast platform that you're listening
on right now, I greatly appreciate it.
It helps out the show tremendously and you'll never
miss an episode. And each episode.
Is about 10 minutes or less. To get you caught up.
Quickly and please, if you want to support the show even more,
go to patreon.com slash. Stage 0.
(08:21):
And please take care of yourselves and each other, and
I'll see you tomorrow.
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