SpaceX has held bitcoin for years without ever having to explain why to the public market investors. That’s about to change.
Bloomberg reported late Friday that Elon Musk’s rocket and satellite company is targeting a confidential IPO filing with the SEC as soon as March, keeping it on track for a June listing that would be the largest in history.
The company is expected to seek a valuation above $1.75 trillion and raise as much as $50 billion, eclipsing Saudi Aramco’s 2019 record of $29 billion.
Arkham Intelligence data shows SpaceX’s identified wallets held about 8,285 bitcoin spread across 43 addresses in Coinbase Prime custody, a stake now worth roughly $545 million after a $235 million decline in value over the past three months.
SpaceX’s S-1 and future earnings reports will expose investors to bitcoin-driven paper gains and losses, echoing Tesla’s experience with crypto-related volatility and headline risk.
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