Eighteen thousand, seven hundred and twelve BTC
That’s what SpaceX has sitting on its balance sheet, according to the S-1 registration filing submitted to the SEC. The aerospace company controlled by Elon Musk is finally putting a number to years of speculation, with the disclosure valued at around $1.45 billion at current prices. All of this comes as SpaceX gears up for its IPO on June 12.
Bitcoin accumulation started five years ago, before most corporate treasury plays even existed on this scale. SpaceX now sits as the 7th largest publicly disclosed bitcoin holder, nudging past Tesla on the corporate leaderboard.
A Bitcoin Treasury Built in Stealth
SpaceX’s bitcoin accumulation strategy has been a source of speculation among crypto analysts for years. On-chain sleuths had previously estimated the company’s holdings based on wallet patterns and known Tesla transfers, but official numbers remained elusive until now.
The S-1 filing values SpaceX’s bitcoin at $1.29 billion fair value as of March 31, 2026, with the $1.45 billion valuation reflecting the recent price appreciation. This positions SpaceX alongside corporate bitcoin treasuries like MicroStrategy, Marathon Digital, and Block Inc.
How SpaceX Compares to Other Public Bitcoin Holders
With 18,712 BTC, SpaceX would rank just behind Tesla among publicly reporting entities. MicroStrategy leads with over 500,000 BTC. Marathon Digital follows with roughly 35,000 BTC. SpaceX’s disclosure exceeds most market estimates based on previous on-chain analysis.
What This Means for the June 12 IPO
The S-1 filing gives potential investors their first clear picture of SpaceX’s digital asset exposure ahead of what could be one of the largest IPOs in history. The company’s bitcoin holdings are listed as a separate line item in its balance sheet, providing transparency that some analysts say could attract crypto-savvy investors.
Market Reaction and Bitcoin Sentiment
The disclosure has strengthened bitcoin sentiment among institutional circles, with several analysts noting that SpaceX’s long-term holding strategy reinforces bitcoin’s position as a corporate treasury asset. At current market prices, SpaceX’s bitcoin position represents a significant return on its original investment, though the exact cost basis wasn’t disclosed.
FAQ
Q: When did SpaceX start buying bitcoin? According to the S-1 filing, SpaceX’s bitcoin accumulation began approximately five years ago, making it one of the earliest corporate adopters of the digital asset.
Q: How does SpaceX compare to other corporate bitcoin holders? With 18,712 BTC valued at $1.45 billion, SpaceX is now the 7th largest publicly disclosed corporate bitcoin holder globally.
Q: Will SpaceX accept crypto payments after the IPO? The S-1 filing doesn’t address post-IPO payment systems, though SpaceX has previously accepted dogecoin for merchandise purchases.
