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2026-05-21 11:33:34

How Many Bitcoins Does Elon Musk's SpaceX Hold Amid $1.75T IPO Filing?

Elon Musk’s SpaceX has disclosed that it held 18,712 Bitcoin in its S-1 registration statement with the U.S. Securities and Exchange Commission, confirming one of the largest known corporate Bitcoin positions among private technology companies preparing to enter public markets. The filing showed that SpaceX’s Bitcoin holdings had a fair value of $1.29 billion as of March 31, 2026. With Bitcoin recently trading above $77,000, the same holdings would be worth about $1.45 billion based on current market prices. SpaceX said the Bitcoin position had a cost basis of roughly $35,000 per BTC. That places the total purchase cost near $661 million. The company said it has held Bitcoin on its balance sheet since 2021 and uses outside custodians to store the reserve. SpaceX Reports 18,712 BTC in IPO Filing The Bitcoin disclosure gives investors a clearer view of SpaceX’s treasury strategy as the company moves toward a public listing. The filing places SpaceX among a limited group of major corporations with large Bitcoin holdings. Tesla, another company led by Musk, holds 11,509 BTC, according to BitcoinTreasuries data cited in market reports. Strategy, led by Michael Saylor, remains the largest corporate Bitcoin holder with 843,738 BTC. SpaceX reported an unrealized loss of $112 million on its Bitcoin investment last year as prices declined during part of the period. In 2024, the company recorded a paper gain of $955 million as cryptocurrency prices rose. Earlier estimates from blockchain researchers had suggested that SpaceX held a smaller amount of Bitcoin. The S-1 filing now confirms the company’s reported total and shows that prior wallet-based estimates may not have captured all of its custodial holdings. IPO Filing Shows Revenue, Loss and Valuation Target SpaceX filed to list publicly on Nasdaq under the ticker SPCX. The company is seeking one of the largest public offerings ever, with reports placing the possible valuation near $1.75 trillion and some market estimates above $2 trillion. The S-1 showed that SpaceX generated $4.69 billion in first-quarter revenue and recorded a $4.28 billion net loss. For 2025, the company reported revenue of $18.7 billion, up from $14 billion in 2024. The filing presented SpaceX as a business spanning reusable rockets, satellite internet, defense contracts, artificial intelligence infrastructure and long-term space systems. Starlink remains a major growth area, while launch services continue to provide a core revenue base. The company also disclosed a major AI compute agreement with Anthropic. The deal requires Anthropic to pay SpaceX about $1.25 billion per month through May 2029 for compute capacity. The contract could generate more than $40 billion in revenue if it remains active through its full term. Binance Launches SpaceX Pre-IPO Contract The expected SpaceX listing has also moved into crypto-linked derivatives markets. Binance has launched a SpaceX-linked “Pre-IPO Perpetual Contract” under the SPCXUSDT pair, allowing traders to speculate on the company’s expected valuation before its public debut. The contract is margined and settled in Tether’s USDT stablecoin. Binance said the product is designed to give retail traders early exposure to high-profile public listings using crypto-native futures infrastructure. Before SpaceX begins trading publicly, the contract price is expected to track public valuation signals, including private funding rounds and IPO range updates. After the company lists, the contract may shift to reflect live share performance. Prediction markets are also tracking the SpaceX IPO. Traders on Polymarket have priced in a more than 70% chance that the offering closes above $2 trillion, according data. The SpaceX IPO may arrive during a crowded period for large technology listings. OpenAI and Anthropic are also preparing for possible public offerings, which could draw investor capital toward new AI and space-related equities.

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