Blockchain analysts had it wrong — by a wide margin. When SpaceX filed its S-1 registration statement with US securities regulators ahead of its planned June 12 stock market debut, the company disclosed Bitcoin holdings that were more than double what tracking firms had estimated.
A Closer Look At The Numbers
SpaceX reported owning 18,712 Bitcoin valued at roughly $1.45 billion as of March 31. That figure caught much of the crypto world off guard.
Companies like BitcoinTreasuries.NET and Arkham had pegged the company’s holdings at around 8,285 Bitcoin — less than half the actual amount.
The coins were purchased at an average price of $35,320 each, according to the SEC filing. At current prices, the position represents a substantial gain.
SpaceX Form S-1 filing with the SEC.
The disclosure places SpaceX seventh among publicly listed companies by Bitcoin holdings. That ranking is set to become official once the company completes its IPO, which would push it past several well-known names in the corporate Bitcoin space.
Bigger Than Tesla
SpaceX’s stash also puts it ahead of Tesla, the electric vehicle company also led by Elon Musk. Tesla holds 11,509 Bitcoin — roughly 7,000 fewer coins.
Both companies began buying Bitcoin around the same time. Reports indicate SpaceX started accumulating the cryptocurrency in early 2021, right around when Tesla made its own move into digital assets. The parallel timing suggests Bitcoin adoption across Musk’s companies was no coincidence.
SpaceX’s BTC holdings as of Dec. 31, 2025. Source: SEC
The IPO itself carries numbers that are hard to ignore. SpaceX is aiming to raise around $75 billion, with an estimated company valuation ranging from $1.75 trillion to $2 trillion.
If achieved, it would rank as the largest public offering in capital markets history. The company says it is targeting what it described in its filing as the largest addressable market in human history — a $28.5 trillion opportunity spanning artificial intelligence, space exploration, and global connectivity.
A New Layer For Investors
Once SpaceX begins trading, its stock will offer investors something beyond aerospace exposure. Owning shares would also mean indirect access to one of the largest corporate Bitcoin positions among public companies.
That combination — rockets, satellites, AI ambitions, and a billion-dollar crypto holding — gives the offering a profile unlike most traditional IPOs.
SpaceX joins a short list of major corporations that have moved Bitcoin onto their balance sheets in a meaningful way.
The company’s filing makes clear the position was not a small experiment. Nearly 19,000 coins held over several years points to a deliberate, long-term strategy — one that was largely hidden from public view until now.
Featured image from Unsplash, chart from TradingView
