SpaceX IPO Puts 18,712 Bitcoin Treasury on Wall Street’s Radar

SpaceX’s historic IPO drew fresh attention to one of the largest bitcoin positions held by a public company. SEC filings show 18,712 BTC on the balance sheet with a fair value of $1.293 billion.

• Key Takeaways:
• • SpaceX brought a major bitcoin treasury to public markets through its historic IPO.
• • The company’s 18,712 BTC position highlights growing institutional confidence in bitcoin.
• • Rising corporate adoption could strengthen bitcoin’s role in long-term treasury strategies.

Historic SpaceX IPO Spotlights One of America’s Boldest Bitcoin Treasuries

Space Exploration Technologies Corp. (Nasdaq: SPCX) entered public markets in a landmark debut that valued the company at $2.1 trillion, making it the largest IPO on record. The offering drew attention to SpaceX’s launch business, satellite network, artificial intelligence ambitions, and unusually large bitcoin treasury.

SpaceX disclosed 18,712 BTC in its Form S-1 amendment filed with the U.S. Securities and Exchange Commission (SEC) on June 3, 2026. The filing placed the bitcoin position within the company’s broader balance-sheet disclosures before its public-market debut.

The filing states:

“As of March 31, 2026 and December 31, 2025, the company also held 18,712 units of bitcoin with a cost basis of $661 million and fair value of $1,293 million and $1,637 million, respectively.”

SpaceX’s bitcoin holdings. Source: SpaceX’s SEC filing Updated accounting rules adopted in 2024 changed how SpaceX reports its bitcoin holdings. The adjustment increased digital assets by $496 million and reduced accumulated deficit by the same amount.

The filing also shows SpaceX owns and controls its digital assets. The company uses third-party custodians to hold bitcoin and expects to continue that custody arrangement.

Elon Musk’s Companies Draw Focus for Corporate Bitcoin Holdings

Musk became the world’s first trillionaire after the SpaceX IPO, adding further attention to his companies’ balance sheets. He previously disclosed personal holdings of bitcoin ( BTC), ethereum ( ETH), and dogecoin (DOGE).

Tesla, Musk’s electric car company, holds 11,509 BTC on its balance sheet. Combined with SpaceX’s 18,712 BTC, Musk-linked companies account for 30,221 BTC in corporate bitcoin holdings.

Data from Bitcointreasuries.net places SpaceX among the largest public-company bitcoin holders. The ranking shows SpaceX in eighth place with 18,712 BTC, ahead of Coinbase Global and Riot Platforms, while Tesla ranks 12th with 11,509 BTC. The list is led by Strategy with 845,256 BTC.

Top 100 public bitcoin treasury companies. Source: Bitcointreasuries.net Jeff Park, partner and portfolio manager at ParaFi Capital and advisor at Bitwise, described SpaceX’s BTC position as one of America’s most ambitious corporate treasury moves. He connected the IPO with SpaceX’s bitcoin holdings and low average cost basis.

On June 12, Park wrote on X:

“As we celebrate SpaceX IPO today, it’s worth remembering that SpaceX has ~20K BTC on its balance sheet with the lowest average cost basis of $35K, representing one of the most visionary corporate treasuries in America. Two moonshots, one balance sheet.”

Strategy Executive Chairman Michael Saylor also linked the SpaceX debut to corporate bitcoin adoption, writing that 25% of the “Mag8” now holds bitcoin on the balance sheet after the SPCX listing.