SpaceX disclosed in a new S-1 registration statement filed with the U.S. Securities and Exchange Commission (SEC) that it holds $1.293 billion in Bitcoin (BTC) on its balance sheet.
This disclosure is the first time the company has publicly detailed its cryptocurrency holdings ahead of a planned initial public offering.
SpaceX Discloses Its BTC Position
In the filing, SpaceX states it holds 18,712 BTC, purchased at an average cost of approximately $35,324 per coin, representing a total cost basis of about $661 million. As of March 31, 2026, the fair market value of those holdings was reported at $1.293 billion, reflecting an unrealized gain of nearly 119%.
“The company has ownership of and control over its digital assets, which consists of Bitcoin, and utilizes, and expects to continue to utilize third-party custodians to hold its Bitcoin,” the filing states.
Elon Musk has long signaled an interest in digital assets through public commentary, but this filing is the first formal confirmation from SpaceX that the company holds Bitcoin. Prior estimates were largely speculative; tracking efforts tied to Arkham-linked wallets had suggested a smaller holding, around 8,285 BTC.
The disclosure positions SpaceX among the largest corporate holders of Bitcoin globally, surpassing Tesla’s known reserves. Data compiled by BitcoinTreasuries.net places SpaceX as the seventh-largest corporate holder, while Tesla ranks 13th with 11,509 BTC.
MicroStrategy remains the largest corporate Bitcoin treasury, having recently expanded its holdings by purchasing 24,869 BTC and bringing its total to approximately 843,738 BTC.
SpaceX’s Upcoming IPO
SpaceX is preparing for a high-profile IPO, planning to list on the Nasdaq under the ticker SPCX as soon as next month. The company aims to raise roughly $75 billion and is expected to seek a valuation between $1.75 trillion and $2 trillion. If it achieves that target, the offering would eclipse the 2019 Saudi Aramco IPO—currently the largest-ever debut—which raised $29.4 billion.
In its prospectus, SpaceX estimates a total addressable market of about $28.5 trillion and outlines a strategy focused on leveraging repeatable business models to capture opportunities within that market. The filing also indicates that Elon Musk would retain approximately 85.1% of voting power following the listing, ensuring he retains decisive control over the company’s strategic direction.
For context in the crypto industry, last year Circle, the issuer of the stablecoin USDC, completed an IPO that raised over $1 billion and drew strong demand from institutional investors. That offering was widely oversubscribed, highlighting continued investor appetite for crypto-related public listings.