SpaceX Unveils Larger-Than-Expected Bitcoin Stash

Elon Musk’s aerospace company SpaceX reported holding 18,712 Bitcoin worth $1.45 billion in a recent filing, over 10,000 coins more than blockchain tracking firms had estimated. 

In the company’s S-1 registration statement, filed as part of its bid to become a public company on June 12, SpaceX revealed it purchased Bitcoin (BTC) at an average of $35,320 per coin. Its reported holdings would make it the seventh-largest among public companies.

SpaceX’s Bitcoin holdings as of Dec. 31, 2025. Source: SEC

SpaceX is poised to become the biggest IPO in capital markets history, aiming to raise around $75 billion with an estimated valuation of $1.75 trillion to $2 trillion. Buying its stock would give investors a way to gain exposure to Bitcoin, alongside the company’s aerospace and AI businesses. 

SpaceX Bitcoin accumulation began five years ago 

SpaceX began buying Bitcoin in early 2021, around the same time that Musk’s Tesla started investing in the cryptocurrency.

The latest SEC filing shows that SpaceX has considerably more Bitcoin than Tesla, which holds 11,509 Bitcoin. It also surpasses estimates from BitcoinTreasuries.NET and crypto analytics firm Arkham, which estimated SpaceX’s Bitcoin holdings at only 8,285 Bitcoin.

Related: Saylor’s Strategy scoops $2B Bitcoin, holdings reach 843,738 BTC 

BitcoinTreasuries.NET data shows that SpaceX only holds 8,285 Bitcoin on its balance sheet. Source: BitcoinTreasuries.NET

SpaceX chasing largest addressable market in “human history”

SpaceX is one of few private companies with large valuations looking to go public in 2026, along with AI firms OpenAI and Anthropic.

Going public could unlock billions of dollars in capital for the company to fund projects like Starlink, orbital data centers and potentially Mars colonization. 

In the filing, SpaceX said it is targeting the largest actionable total addressable market in “human history,” estimating a $28.5 trillion opportunity spanning AI, space and connectivity.

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