SpaceX Reveals Bitcoin Reserves in IPO Filing


Elon Musk’s space company SpaceX has filed a public IPO application with the SEC. According to Form S-1, as of March 31, the company held 18 712 BTC acquired for $661 million.

The average purchase price was $35 300 per coin, and the market value of the reserve at the end of the quarter was estimated at $1.29 billion.

SpaceX plans to go public on Nasdaq under the ticker SPCX.

If the Commission approves the share offering, SpaceX will become one of the largest public companies with a corporate reserve in the first cryptocurrency. By the amount of Bitcoin it holds, the company already surpasses Coinbase, which holds 16 492 BTC.

The IPO is expected to be the biggest exchange listing in the U.S. in recent years. WSJ and Reuters report that the company’s valuation is about $1.75 trillion, and potential fundraising is $75 billion-$80 billion.
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SPCX2.77%
BTC1.48%
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