- SpaceX filed its S-1 registration statement with the U.S. SEC ahead of a planned IPO.
- The company held 18,712 bitcoin valued at $1.29 billion as of March 31.
- SpaceX is reportedly targeting a valuation above $1.5 trillion, with reports of a possible $2 trillion valuation.
- The company reported $18.7 billion in 2025 revenue, up from $14 billion in 2024.
- SpaceX said artificial intelligence and its core businesses represent possible “trillion-dollar market opportunities.”
SpaceX Files for IPO and Discloses Bitcoin Holdings
SpaceX officially confirmed plans to go public on Wednesday after filing its S-1 registration statement with the U.S. Securities and Exchange Commission. The filing provides investors with detailed financial information about the company ahead of a planned initial public offering expected next month.
According to the SpaceX S-1 filing, the company held 18,712 bitcoin on its balance sheet as of Dec. 31, 2025, and maintained the same holdings as of March 31, with the bitcoin valued at approximately $1.29 billion. Based on bitcoin trading above $78,000, the holdings would currently be worth approximately $1.45 billion. The disclosure places SpaceX among a limited group of major corporations with significant bitcoin holdings. Tesla, another company led by Elon Musk, holds 11,509 bitcoin according to BitcoinTreasuries data and Strategy currently holds the largest with 843,738 bitcoin.
SpaceX is reportedly seeking a valuation exceeding $1.5 trillion, with reports indicating a potential valuation of up to $2 trillion. If achieved, the listing would place SpaceX among the world’s 10 most valuable publicly traded companies alongside Apple, Microsoft, and Nvidia. The potential listing could also surpass Saudi Aramco’s 2020 public offering, which raised $29.4 billion at a valuation of about $1.7 trillion.
Revenue Growth and Business Expansion
The S-1 filing disclosed that SpaceX generated $18.7 billion in revenue during 2025, compared with $14 billion in 2024. The filing also provided details regarding revenue growth, capital spending, legal risks, and ownership structure. Investors closely monitored the filing for information regarding Elon Musk’s voting power following the company’s public debut.
SpaceX stated in the filing that its artificial intelligence initiatives, combined with its other business operations, represent possible “trillion-dollar market opportunities.” The company continues expanding its commercial rocket operations and Starlink satellite internet business. SpaceX has established reusable launch systems while continuing to expand its satellite network globally. Elon Musk will continue serving as SpaceX’s Chief Executive Officer, Chief Technical Officer, and Chairman of the board following the IPO.
Recently, several crypto exchanges introduced SpaceX pre-IPO perpetual futures, allowing traders to speculate on the company’s valuation ahead of its expected Nasdaq debut. The launch comes as investor interest intensifies around SpaceX’s potential $1.75 trillion public listing and Elon Musk’s growing influence across tech and crypto markets.
Potential Impact on Crypto and Public Markets
The planned IPO represents another development in corporate bitcoin adoption as major technology firms continue adding digital assets to their balance sheets. At the same time, other large technology companies are also considering public listings. OpenAI and Anthropic are reportedly evaluating their own IPO plans. If multiple large technology IPOs enter the market within a similar period, investor capital could shift from other risk-on assets, including crypto markets, toward public offerings.
SpaceX’s IPO filing provided the first detailed public look at the company’s financial position, including its 18,712 bitcoin holdings, revenue growth, and expanding business operations. With a reported valuation target above $1.5 trillion, the planned public listing could become one of the largest IPOs in history while also highlighting the growing role of bitcoin in corporate treasury strategies.
FAQs
1. How much bitcoin does SpaceX hold?
SpaceX disclosed in its SEC filing that it held 18,712 bitcoin as of March 31, valued at approximately $1.29 billion.
2. What valuation is SpaceX targeting in its IPO?
SpaceX is reportedly seeking a valuation above $1.5 trillion, with some reports indicating a potential valuation of up to $2 trillion.
3. How much revenue did SpaceX report in 2025?
According to the S-1 filing, SpaceX reported $18.7 billion in revenue for 2025, compared with $14 billion in 2024.
4. What businesses does SpaceX operate?
SpaceX operates commercial rocket launch services and the Starlink satellite internet network, while also expanding into artificial intelligence-related initiatives.
Source: Space Exploration Technologies Corp. Form S-1
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