INSTITUTIONAL | SpaceX Discloses Bitcoin Holdings Making it a Top 10 Public Company Holder

Elon Musk’s SpaceX disclosed holding nearly 19,000 bitcoin worth about $1.4 billion in a long-awaited IPO filing revealing a far larger cryptocurrency position than previously estimated and underscoring the growing role of digital assets on corporate balance sheets.

The rocket and satellite company said in its prospectus that it held 18,712 bitcoin as of the end of the first quarter, with a fair value of roughly $1.29 billion at the time. At current market prices, the holdings are valued at around $1.45 billion.

The disclosure makes SpaceX one of the world’s largest known corporate bitcoin holders, surpassing crypto exchange Coinbase’s treasury holdings and trailing only a handful of publicly traded firms such as Strategy and Tesla.

The filing comes as SpaceX prepares for what could become one of the largest public offerings in history, with media reports valuing the company at more than $1.5 trillion.

SpaceX said it acquired the bitcoin at a total cost basis of about $661 million, implying an average purchase price of roughly $35,300 per token.

The company had long been rumored to hold bitcoin, though estimates from blockchain analytics firms had placed its stash closer to 8,000 BTC. The IPO filing marks the first official confirmation of the company’s crypto treasury position.

The disclosure also highlights billionaire Elon Musk’s continued ties to the cryptocurrency sector. In 2021, Tesla purchased $1.5 billion worth of bitcoin and briefly accepted the token as payment for vehicles before later selling most of its holdings.

Investor interest in crypto-related corporate treasuries has surged over the past year as bitcoin prices rallied and new accounting rules allowed companies to report digital assets at fair market value rather than at impairment-only valuations.

Bitcoin traded near record highs above $77,000 as of this writing boosting the value of corporate holdings across the sector.

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