Elon Musk's SpaceX Rockets Onto Bitcoin Leaderboard, Securing 8th Largest Holder Spot

Elon Musk's aerospace company, SpaceX, made a historic debut on the Nasdaq today under the ticker SPCX, simultaneously solidifying its position as a major player in the cryptocurrency space. The company officially entered the public Bitcoin treasury leaderboard as the 8th largest holder, boasting an impressive 18,712 BTC. This significant Bitcoin stash, which had been accumulating for years, was fully disclosed in SpaceX's S-1 filing with the Securities and Exchange Commission in May.

The S-1 filing revealed that the 18,712 BTC position was valued at approximately $1.29 billion at the time of disclosure. The total cost basis for these holdings was reported at $661 million, indicating an average acquisition price of roughly $35,324 per coin. This suggests that SpaceX began its Bitcoin accumulation strategy as early as late 2023 or even earlier. At current market prices near $63,000, the value of SpaceX's Bitcoin holdings stands at approximately $1.19 billion.

This disclosure caught many in the market by surprise, as previous estimates from blockchain analytics firms like Arkham Intelligence had tracked SpaceX's holdings as low as 6,095 BTC. Similarly, the BitcoinTreasuries.net May 2026 Corporate Adoption Report had a pre-IPO private estimate of just 8,285 BTC. The confirmed figure, more than double these initial estimates, made SpaceX's reveal the second-largest Bitcoin treasury disclosure in May, only surpassed by Strategy's 25,404 BTC in monthly purchases. It also accounted for over one-third of all public treasury growth before sales, a significant contribution.

BitcoinTreasuries.net had accurately forecasted in its May report that SpaceX was expected to rank among the top ten publicly traded Bitcoin treasuries after its anticipated June 12 IPO. This prediction has now materialized, with the live leaderboard as of June 11 confirming SpaceX at rank #8, positioned just behind Strive (19,032 BTC at #7) and ahead of Coinbase Global (16,492 BTC at #9).

Beyond its crypto holdings, the IPO itself is a landmark event. SpaceX priced its shares at $135 on June 11, successfully raising approximately $75 billion and valuing the company at about $1.75 trillion. Reports indicate that the stock could debut at prices ranging from $155 to $171 per share, which would elevate SpaceX’s valuation to an estimated $2.2 trillion. Such a valuation could potentially make Elon Musk the world’s first trillionaire. The listing, spearheaded by Goldman Sachs and Morgan Stanley, is recognized as one of the largest stock market debuts in U.S. history, even surpassing Saudi Aramco’s $29 billion IPO in 2019.

SpaceX’s entry into the public crypto arena is particularly notable given the prevailing market conditions. Bitcoin has experienced a significant downturn, shedding over 50% from its all-time high of more than $126,000 and currently hovering around $64,000. Additionally, spot Bitcoin ETFs have seen substantial outflows, totaling $2.26 billion over two weeks. Despite these headwinds, SpaceX's Bitcoin position appears to be a strategic, long-term balance-sheet allocation rather than a short-term trading maneuver. The S-1 filing explicitly states: “The Company has ownership of and control over its digital assets, which consist of Bitcoin, and utilizes, and expects to continue to utilize third-party custodians to hold its Bitcoin.” Analysts at Grayscale further noted that SpaceX is poised to become the most valuable public company holding Bitcoin by market capitalization, even as Strategy maintains its lead as the largest holder by coin count with over 843,000 BTC.