Elon Musk’s SpaceX launched buying and selling on the Nasdaq at the moment below the ticker SPCX — and it didn’t arrive empty-handed.
The corporate formally entered the general public Bitcoin treasury leaderboard because the eighth largest holder with 18,712 BTC, a place that had been constructing for years earlier than its historic IPO debut confirmed the complete measurement of the stash.
SpaceX’s S-1 submitting with the Securities and Change Fee first disclosed the 18,712 BTC place again in Could, valued at roughly $1.29 billion on the time of submitting.
The overall value foundation was reported at $661 million — a median acquisition value of roughly $35,324 per coin — suggesting the corporate started accumulating Bitcoin in late 2023 or earlier. At at the moment’s costs close to $63,000, the place is value roughly $1.19 billion.
The disclosure considerably shocked the market. Blockchain analytics agency Arkham Intelligence had beforehand tracked SpaceX’s holdings as little as 6,095 BTC, and the BitcoinTreasuries.web Could 2026 Company Adoption Report famous that its pre-IPO non-public estimate stood at simply 8,285 BTC.
The precise confirmed determine — greater than double these estimates — made SpaceX’s reveal the second-largest Bitcoin treasury disclosure of Could, trailing solely Technique’s 25,404 BTC in month-to-month purchases and accounting for greater than one-third of all public treasury development earlier than gross sales.
“We expect SpaceX to rank among the top ten publicly traded Bitcoin treasuries after its anticipated June 12 IPO,” BitcoinTreasuries.web wrote in its Could report — a forecast that has now materialized.
The dwell leaderboard, up to date as of June 11, confirms SpaceX at rank #8, slotting in simply behind Try (19,032 BTC at #7) and simply forward of Coinbase International (16,492 BTC at #9).
SpaceX shares debut larger than preliminary pricing
The IPO itself is historic, even with out the Bitcoin angle.
SpaceX priced its shares at $135 on June 11, elevating roughly $75 billion and valuing the corporate at about $1.75 trillion.
Experiences now point out the inventory might debut at $171 per share with different studies saying $155 a share. At that value, SpaceX’s valuation would climb to roughly $2.2 trillion, doubtlessly making Elon Musk the world’s first trillionaire.
The itemizing, led by Goldman Sachs and Morgan Stanley, ranks as one of many largest inventory market debuts in U.S. historical past, surpassing Saudi Aramco’s $29 billion IPO in 2019.
The timing of SpaceX’s entry into the general public crypto area is notable given broader market headwinds. Bitcoin has shed greater than 50% from its all-time excessive above $126,000, hovering round $64,000 in latest classes, with spot Bitcoin ETFs bleeding $2.26 billion in outflows over two weeks.
Nonetheless, SpaceX’s Bitcoin place seems to be a long-term balance-sheet allocation reasonably than a buying and selling posture. The S-1 said: “The Company has ownership of and control over its digital assets, which consist of Bitcoin, and utilizes, and expects to continue to utilize third-party custodians to hold its Bitcoin.”
Analysts at Grayscale famous that SpaceX is poised to change into probably the most worthwhile public firm holding Bitcoin by market capitalization — at the same time as Technique stays the biggest by coin rely with over 843,000 BTC.
