I just noticed a pretty interesting detail — SpaceX is preparing to file for an IPO, and in that filing, they will have to disclose that the company holds nearly 8,300 bitcoins. Back in December, this amount of bitcoin was worth about $780 million, but now it has dropped to around $545 million. That’s an unrealized loss of $235 million over a few months, and SpaceX hasn't sold a single coin.

This could cause some issues for SpaceX’s valuation when publicly releasing financials. Musk’s Tesla has previously reported hundreds of millions of dollars in paper losses from bitcoin, creating unwanted headlines even though the company hasn't sold anything. Currently, bitcoin’s price is around $77.89k, and if the market continues to adjust, SpaceX’s S-1 will have to disclose these figures, potentially overshadowing its core business operations.

However, when compared to the overall scale, this bitcoin loss might not be too concerning. Tesla just reported revenue of $94.8 billion in 2025, so a few hundred million dollars in paper losses isn’t a big deal. Notably, SpaceX simply holds bitcoin through all cycles — unlike Tesla, which has bought and sold, data shows the company has never changed this stance since it started holding.