Space Exploration Technologies Corp. (SpaceX) closed its $75 billion initial public offering on June 12, inserting Bitcoin into its balance sheet as part of the debut.
IPO Overview
SEC filings reveal that SpaceX listed 18,712 BTC, a stash valued at roughly $1.19 billion at the time of the filing. The company’s filing, an S‑1 document, confirms the crypto asset forms a substantial portion of the newly raised capital.
Investors witnessed the IPO as the largest of its kind, with the blockchain‑focused asset boosting the company’s financial profile. The inclusion of crypto aligns SpaceX with a growing cohort of publicly traded firms holding digital currency.
Bitcoin Holdings and Performance
SpaceX initially purchased Bitcoin in early 2021, when the flagship coin traded below $40,000 per token. The firm’s original stash peaked at 28,000 BTC before a reduction in May 2022, according to Arkham Intelligence data.
Current unrealized gains stand at $431 million, a decline from the near $1.6 billion peak recorded during the 2025 bull market. The drop reflects market volatility and the shifting sentiment among crypto investors.
Market and Competitive Impact
Metrics from BitcoinTreasuries rank SpaceX eighth among public companies with Bitcoin treasuries. Competitors include Strategy Inc. (MSTR), Twenty One Capital (XXI),