- SpaceX disclosed 18,712 BTC in its IPO filing, with the reserve worth about $1.45 billion at recent Bitcoin prices.
- SpaceX bought its Bitcoin for $661 million, giving the company an average purchase price near $35,300 per BTC.
SpaceX has filed for a public listing with a large Bitcoin reserve on its balance sheet, giving the company’s IPO a fresh crypto angle. The Elon Musk-led space and satellite company disclosed 18,712 BTC in its filing, worth about $1.29 billion at the end of March and roughly $1.45 billion at recent Bitcoin prices. The company bought the coins for $661 million, placing its average cost near $35,300 per Bitcoin.
The filing places SpaceX among the largest corporate Bitcoin holders as it prepares to list on Nasdaq under the ticker SPCX. The planned offering could rank among the largest U.S. market debuts in history, with reports pointing to a possible $75 billion raise and a valuation near $1.75 trillion.
SpaceX’s Bitcoin position also links the company more closely to Musk’s wider record with digital assets. Tesla bought Bitcoin in 2021 and later sold part of that position, while SpaceX kept its own reserve outside public view until the IPO filing.
The company said it controls its digital assets and uses third-party custodians to hold Bitcoin. That detail matters for public investors, as custody, accounting, and price volatility can affect how listed companies report crypto reserves. It also gives Wall Street a new benchmark for judging Bitcoin exposure inside a major operating business, rather than a crypto-native company.
Bitcoin Reserve Adds a Treasury Angle for SpaceX
SpaceX enters the public market with businesses tied to rockets, satellite internet, defense contracts, and AI-related infrastructure. However, the Bitcoin reserve adds another item for investors to track once the company starts trading. A large BTC position can strengthen reported asset value when prices rise, yet it can also add pressure during sharp market pullbacks.
The company’s average purchase price gives it a large unrealized gain at current levels. With Bitcoin trading near $78,000, SpaceX’s holdings sit far above cost. That gap gives the firm a cushion, although market swings could still move the value of the reserve by hundreds of millions of dollars within days.
SpaceX’s filing also shows broader financial links across Musk’s companies, including Tesla, xAI, X, and The Boring Company. Investors will therefore evaluate SpaceX as more than a launch and satellite company. They will also consider its role inside a larger business network built around transport, communications, AI, and digital infrastructure.
Bitcoin traded near $77,900 after losing momentum above $82,000.
Glassnode said profit-taking increased as the market struggled to absorb fresh selling. Its Realized Profit/Loss Ratio rose from 0.4 in February to 1.8 last week, showing that investors moved quickly to lock in gains.
The $78,300 True Market Mean remains a key level for Bitcoin, although Glassnode said a move above that area alone does not confirm a stronger market shift. The firm noted that past bull phases required longer consolidation around that level before prices gained durable support.
CryptoQuant also warned that Bitcoin’s rejection near the 200-day moving average around $81,000 to $82,000 resembles the failed recovery seen in March 2022.
CryptoQuant pointed to weak spot demand, negative Coinbase premium readings, and net selling from U.S. spot Bitcoin ETFs as pressure points.
Meanwhile, we reported that SpaceX-linked pre-IPO perpetuals launched on Hyperliquid under the SPCX ticker, giving traders exposure to the company’s implied valuation without real shares.
