SpaceX IPO filing reveals $1.45 billion Bitcoin position ahead of Nasdaq debut
With a target valuation near $1.75 trillion and listing set for June, SpaceX’s cryptocurrency disclosure marks a significant shift in how institutional investors view its balance sheet.
SpaceX has officially disclosed its cryptocurrency holdings in a Form S-1 filing with the US Securities and Exchange Commission, revealing a Bitcoin position valued at approximately $1.45 billion as of 31 December. The filing, submitted as part of the company’s preparations for an initial public offering, confirms the rocket manufacturer held 18,712 Bitcoin, placing it among the largest known corporate holders of the digital asset.
The acquisition cost basis for these holdings was recorded at $661 million, implying an average purchase price of roughly $35,000 per coin. Based on current market valuations of $77,333 per Bitcoin, the company has accumulated substantial unrealised paper gains. This disclosure positions SpaceX ahead of Coinbase in terms of reported corporate Bitcoin reserves, ranking seventh among tracked corporate treasuries.
The filing provides a formal accounting figure that contrasts with recent on-chain data. While blockchain analytics firm Arkham had previously tracked approximately 8,280 Bitcoin associated with SpaceX, the SEC document presents the official year-end balance. This discrepancy highlights the difference between real-time on-chain tracking and formal corporate financial reporting, offering investors a clearer view of the company’s asset base ahead of its public debut.
SpaceX is targeting a valuation near $1.75 trillion for its anticipated listing on the Nasdaq and Nasdaq Texas, with a potential debut date as early as 12 June under the ticker symbol SPCX. The offering is being underwritten by a consortium of major financial institutions, including Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, and J.P. Morgan. The company’s broader financial profile in the filing highlights $18.67 billion in revenue for the previous year, driven primarily by its Starlink satellite division.
For market participants, the Bitcoin disclosure transforms a long-standing footnote in Elon Musk’s corporate history into a measurable balance-sheet item. The inclusion of these assets adds a new layer of complexity to the valuation of one of the most anticipated listings in recent years, alongside the company’s reported $28.5 trillion total addressable market across its space and artificial intelligence ventures.
