SpaceX officially filed its S-1 registration statement with the SEC on Wednesday, confirming plans to go public at a valuation exceeding $1.5 trillion, potentially becoming the largest IPO in history. The filing revealed that SpaceX holds 18,712 bitcoin on its balance sheet as of March 31, valued at $1.29 billion at fair value, currently worth about $1.45 billion. This places SpaceX among major corporate bitcoin holders, alongside Tesla (11,509 BTC) and Strategy (843,738 BTC). The company reported 2025 revenue of $18.7 billion, up from $14 billion in 2024. SpaceX's IPO could drain liquidity from crypto markets as investors rotate capital into the offering, alongside potential IPOs from OpenAI and Anthropic.

Key facts

• SpaceX filed S-1 for IPO with valuation over $1.5 trillion.
• Holds 18,712 bitcoins worth $1.29 billion as of March 31.
• 2025 revenue reached $18.7 billion, up from $14 billion in 2024.
• IPO could drain liquidity from crypto markets.
• Musk remains CEO, CTO and Chairman after going public.

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