SpaceX, the aerospace company led by Elon Musk, has filed its highly anticipated S-1 with the Securities and Exchange Commission, revealing a substantial Bitcoin position. The filing confirms that SpaceX holds 18,712 BTC, which is valued at approximately $1.45 billion. These coins were acquired at a cost basis of $661 million, averaging roughly $35,000 per coin, a price point Bitcoin had last reached in late 2023.

This significant stake positions SpaceX as the seventh-largest known corporate Bitcoin holder globally, surpassing even Coinbase. The company is targeting a Nasdaq listing under the ticker SPCX. With a private market valuation of $1.75 trillion, a successful public offering would place SpaceX above Tesla in market capitalization and establish it as the largest public company to include Bitcoin on its balance sheet.

SpaceX's engagement with Bitcoin commenced in 2021, aligning with the period when Elon Musk's other venture, Tesla, made its own $1.5 billion cryptocurrency purchase. While Arkham Intelligence previously tracked SpaceX's holdings as low as 6,095 BTC last year, the S-1 filing definitively confirmed the larger position of 18,712 coins as of December 31.

Given its cost basis of $35,000 per coin and Bitcoin's current trading value above $77,000, SpaceX is currently sitting on unrealized gains of approximately $789 million. This Bitcoin position, while substantial, represents a small fraction of the company's overall financial landscape, as SpaceX reported $18.7 billion in revenue in 2025, with Starlink contributing $11.39 billion to that figure.

The upcoming Initial Public Offering introduces new disclosure requirements. Under the FASB fair-value accounting rules, which became effective in late 2025, SpaceX will be obligated to report its Bitcoin exposure in quarterly filings. This will make its position transparent to all public market investors, with future financial reports reflecting unrealized gains or losses influenced by Bitcoin's price fluctuations. This level of volatility previously led Tesla to divest the majority of its own Bitcoin holdings in 2022.

Upon its listing, SpaceX will join Tesla on the exclusive list of public companies that classify Bitcoin as a balance-sheet asset. This cohort is presently dominated by Strategy Inc., which boasts holdings of over 843,000 BTC, valued at more than $64 billion. For cryptocurrency enthusiasts and market observers, the SpaceX S-1 is considered one of the most anticipated and significant corporate disclosures of 2026.