SpaceX Discloses Bitcoin Holdings in IPO Filing

SpaceX filed for IPO, revealing 18,712 BTC holdings.

Elon Musk’s space company SpaceX has submitted a public filing to the SEC for an IPO. According to the S-1 form, as of March 31, the firm held 18,712 BTC, acquired for $661 million.

The average purchase price was $35,300 per coin, and the market value of the reserve at the end of the quarter was estimated at $1.29 billion.

SpaceX plans to list on Nasdaq under the ticker SPCX.

If the Commission approves the stock offering, SpaceX will become one of the largest public companies with a corporate reserve in the leading cryptocurrency. By the volume of bitcoins, the company already surpasses Coinbase, which holds 16,492 BTC.

The IPO is set to be the largest market debut in the U.S. in recent years. WSJ and Reuters report that the company’s valuation is around $1.75 trillion, with potential fundraising of $75-80 billion.

Connections Within Musk’s Ecosystem

The filing details SpaceX’s relationships with other Musk assets. The documents mention commercial and financial ties with:

• Tesla;
• xAI;
• X;
• The Boring Company.

This means investors will evaluate not only SpaceX’s space and satellite business but also the broader network of interconnections within Musk’s companies.

The cryptocurrency reserve mentioned in the filing is particularly intriguing in light of Tesla’s past. In 2021, the automaker purchased bitcoins worth $1.5 billion, later selling a significant portion of the position. It now emerges that SpaceX has also been holding a substantial reserve of digital gold all this time.

Earlier in February, SpaceX acquired another of Musk’s AI startups, xAI, creating the world’s most valuable private company valued at $1.25 trillion.