SpaceX Holds $1.46 Billion in $BTC as IPO Preparations Gain Momentum

@SpaceX has disclosed a holding of 18,712 $BTC on its balance sheet, worth approximately $1.46 billion at current prices, as part of its formal S-1 registration statement filed with the U.S. Securities and Exchange Commission on May 20, 2026.

What the IPO Filing Reveals

The S-1, which sets up a planned public listing on Nasdaq under the ticker SPCX, gives investors their first detailed official look at the company's finances. SpaceX disclosed that, as of March 31, 2026, it held 18,712 Bitcoin with a total cost basis of approximately $661 million, implying an average acquisition cost of around $35,300 per coin. The holdings carried a fair value of $1.29 billion at the end of Q1, rising to closer to $1.45 billion with Bitcoin trading just above $77,000.

SpaceX's Bitcoin treasury exceeds that of Tesla, which holds 11,509 Bitcoin, though it remains well behind Michael Saylor's Strategy, the largest corporate holder globally with 843,738 Bitcoin. The company said it has held Bitcoin on its balance sheet since 2021 and uses outside custodians to store the reserve.

The IPO would mark another milestone in Bitcoin adoption in corporate finance, as large technology companies continue to add digital assets to their balance sheets.

A Landmark Listing in the Making

SpaceX has filed its S-1 registration statement with the SEC, setting up a planned public listing on Nasdaq under the ticker SPCX. The company is targeting a valuation of between $1.5 trillion and $2 trillion, with its public debut expected in June 2026. According to the Wall Street Journal, SpaceX is seeking to raise $80 billion in the IPO, which would comfortably surpass Saudi Aramco's $26 billion raise in 2019 as the largest offering on record.

The firm posted 2025 revenue of $18.7 billion, up from $14 billion in 2024. Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup and J.P. Morgan are listed as joint book-running managers for the offering. Elon Musk will remain SpaceX's chief executive, chief technical officer and chairman after the IPO, with the filing showing he owns 12.3% of Class A shares and 93.6% of Class B shares.

The Bitcoin position is now a disclosed line item on a balance sheet that will be visible to all public-market investors, adding further institutional weight to corporate $BTC adoption at a moment when the asset class is drawing increasing interest from listed companies worldwide.

Sources:
CoinDesk: SpaceX held 18,712 Bitcoin at fair value of $1.29 billion, IPO filing shows
TechCrunch: The SpaceX IPO filing is filled with AI bets, Starship dreams, and Elon Musk at the center
CNBC: SpaceX's historic IPO plans: Billions in losses and Musk's massive ownership