Space Exploration Technologies Corp. (NASDAQ: SPCX), also known as SpaceX, closed its $75 billion initial public offering (IPO) on June 12 with Bitcoin (BTC) on its balance sheet.
Elon Musk, CEO and founder of SpaceX, steered the company into the largest IPO with 18,712 BTC, worth approximately $1.19 billion at press time, according to the S-1 filing with the United States Securities and Exchange Commission (SEC).
The company acquired its Bitcoin trove in early 2021, when the flagship coin traded below $40,000. Initially, the company held 28,000 BTC but trimmed its holdings in May 2022, according to data from Arkham Intelligence.
At the time of reporting, SpaceX was sitting on an unrealized profit of $431 million, which dropped from nearly $1.6 billion at the height of the 2025 bull market.
SpaceX joins dozens of public Bitcoin treasury companies
Following the heated IPO debut, SpaceX joined a growing list of publicly traded companies with Bitcoin on their balance sheet. At the time of publication, SpaceX ranked 8th among public BTC treasury companies, according to metrics from BitcoinTreasuries.
The company now competes with Strategy Inc. (NASDAQ: MSTR), Twenty One Capital, Inc. (NYSE: XXI), Metaplanet Inc. (TSE: 3350), Bitcoin Standard Treasury Company (NASDAQ: BSTR), Bullish (NYSE: BLSH), and Strive, Inc. (NASDAQ: ASST).
BTC price outlook
As SpaceX shares began trading on Friday, BTC price spiked to a local high of about $64,300. At the time of reporting, the flagship traded around $64,720, up 1.57% over the past 24 hours, with a market capitalization of $1.3 trillion.
As such, the SpaceX IPO could be a long-term boost to BTC’s price, as all its shareholders are indirect holders, for as long as the new board members rule to keep holding.
