SpaceX Unveils $1.45 Billion Bitcoin Treasury Ahead of Blockbuster IPO
SpaceX's S-1 filing reveals the Elon Musk-led company holds 18,712 Bitcoin, valued at approximately $1.45 billion, making it the seventh-largest corporate Bitcoin holder globally. The aerospace giant is poised for a Nasdaq listing, which will bring new transparency to its substantial cryptocurrency position and its nearly $789 million in unrealized gains.
SpaceX has revealed a massive Bitcoin position as part of its long-awaited S-1 filing with the U.S. Securities and Exchange Commission, confirming that the company holds 18,712 BTC worth roughly $1.45 billion.
The filing shows the coins were acquired at an average price of about $35,000 per bitcoin, giving the company an estimated unrealized gain of nearly $789 million with Bitcoin now trading above $77,000.
The disclosure instantly places SpaceX among the world’s largest known corporate Bitcoin holders, surpassing even Coinbase in total reserves.
The company, led by Elon Musk, is preparing for a historic Nasdaq debut under the ticker SPCX. With a reported private valuation of $1.75 trillion, SpaceX could become one of the largest public companies in the world upon listing, overtaking Tesla in market capitalization while also emerging as the biggest publicly traded firm to maintain Bitcoin on its balance sheet.
SpaceX’s crypto involvement dates back to 2021, around the same period Tesla made its own headline-grabbing $1.5 billion Bitcoin purchase, though previous blockchain tracking had underestimated the scale of SpaceX’s holdings.
The filing also signals a new era of transparency for corporate crypto exposure. Under updated fair-value accounting rules introduced in late 2025, SpaceX will now have to report quarterly gains and losses tied to Bitcoin price movements, exposing public investors directly to cryptocurrency volatility.
While the Bitcoin reserve remains relatively small compared to SpaceX’s operations, the company generated $18.7 billion in revenue in 2025, with Starlink contributing over $11 billion, the disclosure is already being viewed as one of the most consequential corporate crypto revelations of the year.
Alongside firms like Strategy Inc., SpaceX’s move further cements Bitcoin’s growing role within the balance sheets of major global corporations.