SpaceX disclosed in its S-1 registration filing that it held 18,712 bitcoin on its balance sheet as of March 31, with a fair value of $1.29 billion. Based on the price cited in the report, those holdings would now be worth close to $1.45 billion, with bitcoin trading just above $77,000.
The filing gives investors one of the clearest looks yet into the finances of one of the world’s most valuable private companies ahead of its planned public listing. It also places SpaceX among a limited group of corporations with sizable bitcoin exposure. According to BitcoinTreasuries data cited in the report, Tesla holds 11,509 BTC, while Michael Saylor’s Strategy remains the largest corporate holder with 843,738 BTC.
IPO Filing Points to Valuation Above $1.5 Trillion
SpaceX formally confirmed its plan to go public on Wednesday. The company is reportedly seeking a valuation of more than $1.5 trillion, and some reports have pointed to a possible $2 trillion figure. At the upper end, the listing could exceed Saudi Aramco’s 2020 market debut, which raised $29.4 billion and valued the company at about $1.7 trillion.
If the offering is completed at that scale, SpaceX would immediately rank among the 10 most valuable publicly traded companies globally, alongside Apple, Microsoft and Nvidia. Investors are also watching the filing for details on how much voting control Elon Musk would retain after the company becomes public. The S-1 includes disclosures on revenue growth, capital spending, legal risks and the ownership structure.
Rocket Launches, Starlink and AI Draw Investor Attention
Interest in the IPO is expected to center on SpaceX’s lead in commercial rockets and satellite internet through Starlink. The company has built a strong position through reusable launch systems and a fast-growing satellite network. The filing shows that SpaceX generated $18.7 billion in revenue in 2025, up from $14 billion in 2024.
SpaceX also referenced its work in artificial intelligence, grouping that segment with its other businesses as potential “trillion-dollar market opportunities.” Musk already controls Tesla, xAI and the social platform X. At SpaceX, he will serve as chief executive officer, chief technical officer and chairman.