SpaceX, the aerospace manufacturer and satellite communications company founded by Elon Musk, has revealed a significant bitcoin position valued at approximately $1.45 billion as it progresses toward a potential public-market debut that could become one of the largest listings in history.
According to prospectus details filed in connection with the planned offering, the company holds 18,712 bitcoin on its balance sheet. SpaceX acquired the cryptocurrency for a total of $661 million, translating to an average purchase price of roughly $35,325 per bitcoin. This leaves the company with a substantial unrealized gain, even after recent market volatility from bitcoin's peak in 2023.
With this disclosure, SpaceX positions itself among the largest known corporate holders of bitcoin globally. It surpasses several publicly-traded cryptocurrency-native firms and is outranked only by the most aggressive corporate treasury adopters of the digital asset.
The revelation adds a notable dimension to SpaceX's financial profile for potential investors. While primarily recognized for its rockets, Starlink satellite internet, and government contracts, the company now presents a major digital asset holding for the market to evaluate ahead of its transition to public trading.
The bitcoin disclosure is part of a broader initial public offering (IPO) narrative. Reports indicate SpaceX is targeting a raise of approximately $75 billion at a valuation nearing $1.75 trillion, with a potential listing on the Nasdaq as early as June 12. Major Wall Street investment banks are anticipated to lead the landmark offering, drawing intense institutional scrutiny to one of the world's most watched private technology companies.
This filing finally provides concrete details on a long-speculated aspect of SpaceX's treasury. Elon Musk confirmed in 2021 that the company owned bitcoin, but the exact scale remained undisclosed while SpaceX operated as a private entity. The move to a public market necessitates formal disclosure, situating bitcoin within the balance sheet of a mega-cap IPO candidate—a departure from the typical crypto-sector entities like miners, exchanges, or dedicated treasury vehicles.
As of the latest data, bitcoin is trading at $77,390 per token.