Space Exploration Technologies Corp. shut down. (NASDAQ: SPCX), also known as SpaceX, announced its $75 billion initial public offering (IPO) on June 12 with Bitcoin (Bitcoin) on its balance sheet.
Elon Musk, CEO and founder of SpaceX, led the company to its largest IPO of 18,712 bitcoins, worth approximately $1.19 billion at press time, according to the S-1. Deposit With the US Securities and Exchange Commission (SEC).
The company acquired the prized Bitcoin holding in early 2021, when the flagship currency was trading at less than $40,000. Initially, the company held 28,000 bitcoins but reduced its holdings in May 2022, according to Data from Arkham Intelligence.
At the time of writing, SpaceX had $431 million in unrealized profits, which is down from about $1.6 billion at the peak of the 2025 bull market.
SpaceX joins dozens of public Bitcoin treasuries
After a hot IPO, SpaceX has joined a growing list of publicly traded companies that have Bitcoin on their balance sheet. At press time, SpaceX ranked eighth among public Bitcoin treasuries, according to Metrics from BitcoinTreasuries.
The company now competes with Strategy Inc. (NASDAQ: MSTR(NYSE: XXI), Metaplanet Inc. (TSE: 3350), Bitcoin Standard Treasure Company (NASDAQ: BSTR), Bullish (NYSE: BLSH), and Strive, Inc. (NASDAQ: assistant).
BTC price forecast
As SpaceX shares began trading on Friday, the price of Bitcoin rose to a local high of around $64,300. At the time of reporting, the major coin was trading at around $64,720, up 1.57% over the past 24 hours, with a market cap of $1.3 trillion.
As such, SpaceX’s IPO could serve as a long-term boost for the price of BTC, as all of its shareholders are indirect holders, as long as the new board members decide to continue holding them.
