SpaceX IPO Filing Shows Elon Musk’s Company Holds More Bitcoin Than Tesla

• SpaceX holds 18,712 Bitcoin, making it the eight corporate holder of Bitcoin among public companies.
• The company’s Bitcoin holdings are larger than Tesla’s treasury position of 11,509 Bitcoin.
• The filing revealed that earlier estimates from Arkham and BitcoinTreasuries undersold SpaceX’s Bitcoin position, with actual holdings more than double the estimate.

Elon Musk’s SpaceX (SPCX) will be among the world’s largest corporate Bitcoin (BTC) holders after its anticipated public listing in June, with the company expected to rank eight among public companies by BTC balance.

The initial public offering (IPO) filing with the U.S. Securities and Exchange Commission (SEC) showed that SpaceX held 18,712 Bitcoin as of March 31. The company spent around $661 million to acquire the BTC, valued at around $1.29 billion at the end of the first quarter (Q1), down from around $1.64 billion at the end of 2025 due to Bitcoin’s recent price decline.

At Bitcoin’s current price of $77,628, the value of SpaceX’s holdings comes to around $1.45 billion.  The company’s Bitcoin treasury exceeds Tesla’s (TSLA) holdings of 11,509 Bitcoin, though it remains well behind Michael Saylor’s Strategy (MSTR), which holds 843,738 Bitcoin and remains the largest corporate holder globally.

The value of SpaceX’s Bitcoin holdings also exceed prior estimates by Arkham and BitcoinTreasuries, which had estimated that SpaceX held only around 8,285 BTC. The reported figure is more than double the estimate.

SpaceX Revenue Climbs Ahead Of Public Listing

The value of SpaceX’s Bitcoin may have dropped over the past quarter, but the company reported strong financial growth. It posted $18.7 billion in revenue for 2025, up from approximately $14 billion in 2024.

The SpaceX filing also disclosed that Elon Musk will continue serving as Chief Executive Officer, Chief Technical Officer, and Chairman of the board following the company’s public debut.

The company is targeting a valuation of between $1.5 trillion and $2 trillion, with its public debut expected in June 2026.

Retail Has Mixed Feelings About SpaceX IPO

Retail sentiment around SpaceX’s pre-IPO ticker on Stocktwits trended in ‘extremely bullish’ territory, accompanied by ‘extremely high’ levels of chatter. Many retail traders speculated over SpaceX's opening price. Some forecast that the IPO launch would mark the peak of the bull market before a sharp correction hits. 

Meanwhile, retail sentiment around Tesla’s stock on Stocktwits trended in ‘bearish’ territory over the past day, accompanied by ‘normal’ levels of chatter. However, it was among the top trending tickers on the platform in early morning trade as retail debated the impact of the SpaceX IPO on existing shareholders. TSLA’s stock moved 1.7% higher in pre-market trade.

Tesla invested in xAI earlier this year, which merged with SpaceX in February, giving the EV maker a stake in SpaceX. Tesla owns around 19 million shares of SpaceX.

Read also: SpaceX, Palantir, Bitcoin Are Pricing The Same War — Just From Different Sides, According To 10x Research

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