SpaceX filed its long-awaited S-1 with the Securities and Alternate Fee Wednesday — and it’s bringing a considerable Bitcoin place into the general public markets.
The Elon Musk-led aerospace firm holds 18,712 BTC, valued at roughly $1.45 billion, in line with the S-1. The cash have been bought at a price foundation of $661 million, or roughly $35,000 per coin — a worth Bitcoin final touched in late 2023.
That stake makes SpaceX the seventh-largest recognized company Bitcoin holder on this planet, forward of Coinbase.
SpaceX is focusing on a Nasdaq itemizing below the ticker SPCX . The corporate has been valued in non-public markets at $1.75 trillion, a determine that may place it above Tesla by market capitalization and make it the biggest public firm to hold Bitcoin on its steadiness sheet.
SpaceX’s Bitcoin journey dates to 2021, when Musk added the cryptocurrency to the corporate’s monetary belongings across the identical time Tesla made its personal $1.5 billion buy.
The corporate has since trimmed its holdings — Arkham Intelligence tracked the stash as little as 6,095 BTC final yr — earlier than the S-1 confirmed a far bigger place of 18,712 cash held as of December 31.
SpaceX’s bitcoin good points
With a price foundation of $35,000 per coin and Bitcoin now buying and selling above $77,000, SpaceX is sitting on paper good points of roughly $789 million. The place represents a small slice of an organization that posted $18.7 billion in income in 2025, led by Starlink’s $11.39 billion contribution.
The IPO introduces new disclosure obligations. Beneath FASB fair-value accounting guidelines that took impact in late 2025, SpaceX will report its Bitcoin publicity in quarterly filings, making the place seen to each public market investor. Future monetary reviews will mirror unrealized good points or losses tied to Bitcoin worth swings — the identical volatility that led Tesla to promote the majority of its personal holdings in 2022.
Tesla, which Musk additionally leads, disclosed holding greater than 11,000 bitcoins in its first-quarter submitting, price near $900 million at present costs.
When SpaceX lists, it would be part of Tesla on the brief roster of public corporations that deal with Bitcoin as a balance-sheet asset — a cohort nonetheless dominated by Technique Inc., which holds greater than 843,000 BTC price north of $64 billion.
The SpaceX S-1 is without doubt one of the most anticipated filings in years. For Bitcoin watchers, it’s the most vital company disclosure of 2026.