SpaceX Reveals 18,712 BTC in IPO Filing Amid Mixed Calls for More Purchases
SpaceX's record-breaking IPO on Nasdaq included a disclosure of 18,712 BTC, worth roughly $1.19 billion, doubling earlier estimates. The $75 billion raise is the largest in history, with shares up 25% on debut. Venture capitalist Tim Draper compared Elon Musk to Satoshi Nakamoto, while trader Scott Melker suggested SpaceX should buy more Bitcoin with the fresh capital. However, the company previously wrote down and sold part of its holdings during the 2022 downturn. The Bitcoin, classified as a strategic reserve for excess cash, represents about 1.8% of total assets. Musk holds 82.4% voting power, making the decision his alone. The disclosure puts Bitcoin in front of millions of new shareholders, but future purchases depend on Musk's stance and competing capital needs for Starlink and Starship.
Key facts
- SpaceX disclosed 18,712 BTC in its IPO filing, double earlier estimates.
- The $75 billion IPO is the largest in history, with shares up 25% on debut.
- Tim Draper compared Elon Musk to Satoshi Nakamoto.
- Scott Melker urged SpaceX to buy more Bitcoin with IPO proceeds.
- Musk holds 82.4% voting power, making Bitcoin decisions his alone.