Elon Musk’s SpaceX launched trading on the Nasdaq today under the ticker SPCX — and it didn’t arrive empty-handed.
Officially, the company is called entered Despite the fact that it was only a few years ago when the IPO first took place, the Bitcoin treasury had grown to 18,712 BTC.
SpaceX filed its S-1 with the Securities and Exchange Commission in May and disclosed that it held 18,712 BTC, which was valued at $1.29 billion.
The total cost basis was reported at $661 million — an average acquisition price of roughly $35,324 per coin — suggesting the company began accumulating Bitcoin in late 2023 or earlier. With prices around $63,000 today, this position is estimated to be worth $1.19 billion.
This news surprised some investors. Blockchain analytics firm Arkham Intelligence had previously tracked SpaceX’s holdings as low as 6,095 BTC, and the BitcoinTreasuries.net May 2026 Corporate Adoption Report noted The private estimation of its pre-IPO was just 8,285 BTC.
The actual confirmed figure — more than double those estimates — made SpaceX’s reveal the second-largest Bitcoin treasury disclosure of May, trailing only Strategy accounts for over one-third (25,404 BTC) of public treasury sales before the monthly purchase of 25,404 BTC by Strategy.
“We expect SpaceX to rank among the top ten publicly traded Bitcoin treasuries after its anticipated June 12 IPO,” BitcoinTreasuries.net wrote in its May report — a forecast that has now materialized.
SpaceX has been ranked 8th on the current leaderboard. This is just behind Strive, which is at number 7 with 19,032 BTC, and slightly ahead of Coinbase Global, at 16492 BTC.
SpaceX share price rises above initial launch pricing
Even without Bitcoin, the IPO is historic.
SpaceX set its share price at $135 on 11 June. The company was valued at approximately $1.75 billion.
According to reports, the company’s stock may debut as low as $171 a share. Other sources claim that it could be $155 per share. SpaceX could be worth $2.2 trillion at that price. Elon Musk would become the first billionaire of the world.
Goldman Sachs, Morgan Stanley and Morgan Stanley are the top two companies on this list. ranks As one of largest stock market debuts U.S. in history, surpassing Saudi Aramco $29 billion IPO’s in 2019.
SpaceX entering the public crypto space at this time is significant, given broader market conditions. Bitcoin is down more than half from its high of $126,000. It has been hovering at $64,000 for the last few sessions. Bitcoin spot ETFs have lost $2.26 Billion in two weeks.
SpaceX appears to have a longer-term Bitcoin allocation on its balance sheet, rather than trading. According to the S-1: “The Company has ownership of and control over its digital assets, which consist of Bitcoin, and utilizes, and expects to continue to utilize third-party custodians to hold its Bitcoin.”
Analysts at Grayscale noted that SpaceX is poised to become the most valuable public company holding Bitcoin by market capitalization — even as Strategy The coinage count is still the highest with over 843000 BTC.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
