SpaceX has officially disclosed its Bitcoin holdings for the first time in an S-1 filing submitted to the U.S. Securities and Exchange Commission (SEC) as part of its public offering process. According to the filing, the company holds 18,712 BTC. As of March 31, 2026, this position had a market value of $1.29 billion. By the filing date, Bitcoin’s price increase lifted that value to $1.45 billion.
The total acquisition cost of the company’s Bitcoin position stands at $661 million. This puts the average purchase price at roughly $35,324 per Bitcoin. At current price levels, the unrealized profit is around $789 million.
Arkham and Bitcoin Treasuries estimates were far below the actual figure
The disclosure closed a major information gap in the market. In April 2026, on-chain analytics firm Arkham Intelligence had identified only 8,285 BTC in wallets attributed to SpaceX. Bitcoin Treasuries had provided a similar estimate. In other words, the actual figure is more than double the amount previously known to the public.
For comparison, Tesla holds 11,509 BTC. With this figure, SpaceX moves clearly ahead of Tesla among corporate Bitcoin holders and ranks as the seventh-largest Bitcoin holder among public companies.
Position unchanged since 2021
SpaceX made its first Bitcoin purchase in early 2021. This coincided with the period when Elon Musk’s other company, Tesla, announced its $1.5 billion Bitcoin investment. According to Bitcoin Treasuries data, the company held 25,724 BTC at the time. Its current position of 18,712 BTC suggests that around 7,012 Bitcoin were sold at some point. Tesla, by contrast, sold roughly 75% of its total position in 2022. SpaceX retained most of its holdings during that period.
The position has remained unchanged since December 31, 2024. The company says it uses third-party custody providers, while maintaining direct ownership rights and control over the assets.
Accounting rules brought volatility to financial results
New accounting standards that came into effect in 2024 require digital assets to be measured at fair value. This change had a direct impact on SpaceX’s income statement. The company recorded $955 million in unrealized gains from its Bitcoin position in 2024, followed by an unrealized loss of $112 million in 2025.
The broader financial picture is more complex. SpaceX posted a net loss of $4.94 billion in 2025, while annual revenue grew 33% to $18.67 billion. The picture worsened in the first quarter of 2026, with the company reporting a $4.3 billion loss against $4.7 billion in revenue. Its accumulated deficit reached $41.3 billion by the end of March.
A historically large public offering
SpaceX plans to begin trading on Nasdaq under the ticker SPCX on June 12, 2026. With a target offering size of around $75 billion, the IPO is set to become the largest transaction ever seen in capital markets. The company’s valuation is estimated to be between $1.75 trillion and $2 trillion.
In its S-1 filing, SpaceX described its target market as “the largest accessible total addressable market in human history.” The company sees a $28.5 trillion opportunity across artificial intelligence, space and connectivity services. Funding needs for Starlink, orbital data centers and Mars colonization projects are also listed among the main reasons behind the public offering.
AI giants such as OpenAI and Anthropic are also among the companies evaluating IPO processes in 2026. SpaceX, however, has become the name taking the most concrete step so far.
