Elon Musk’s SpaceX launched trading on the Nasdaq today under the ticker SPCX — and it didn’t arrive empty-handed.
Company officially I entered Leaderboard of the Bitcoin public treasury as the eighth-largest holder with 18,712 BTC, a position that had been built for years before a historic first public offering confirmed the full size of the stash.
SpaceX’s S-1 filing with the Securities and Exchange Commission first disclosed the position of 18,712 bitcoins in May, worth about $1.29 billion at the time of filing.
The total cost basis was reported at $661 million – with an average acquisition price of around $35,324 per coin – suggesting that the company began accumulating Bitcoin in late 2023 or earlier. At today’s prices near $63,000, the position is worth about $1.19 billion.
This revelation somewhat surprised the market. Blockchain analytics firm Arkham Intelligence had previously tracked SpaceX’s holdings of up to 6,095 BTC, and BitcoinTreasuries.net’s May 2026 corporate adoption report. male Its own estimates before the IPO amounted to only 8,285 bitcoins.
The actual number confirmed — more than double those estimates — led SpaceX to make its second-largest Bitcoin treasury reveal in May, Trailing only Strategy’s monthly purchases amount to 25,404 BTC and represent more than a third of the total public treasury growth before sales.
“We expect SpaceX to rank among the top ten publicly traded Bitcoin treasuries following its expected IPO on June 12,” BitcoinTreasuries.net wrote in its May report, a forecast that has now come true.
The live leaderboard, updated as of June 11, confirms that SpaceX is ranked #8, coming in just behind Strive (19,032 BTC in 7th place) and just ahead of Coinbase Global (16,492 BTC in 9th place).
SpaceX shares debuted higher than initial prices
The IPO itself is historic, even without the Bitcoin angle.
SpaceX priced its shares at $135 on June 11, raising nearly $75 billion and valuing the company at about $1.75 trillion.
Reports now suggest the stock could start at $171 per share, while other reports point to $155 per share. At that price, SpaceX’s value would rise to nearly $2.2 trillion, which could make Elon Musk the world’s first trillionaire.
The listing, led by Goldman Sachs and Morgan Stanley, Rows As one of the largest financial market debuts in US history, surpassing Saudi Aramco’s $29 billion IPO in 2019.
The timing of SpaceX’s entry into the public cryptocurrency arena is notable given the broader market headwinds. Bitcoin has lost more than 50% from its all-time high above $126,000, hovering around $64,000 in recent sessions, with spot bitcoin ETFs bleeding $2.26 billion in outflows over two weeks.
However, SpaceX’s Bitcoin position appears to be more of a long-term balance sheet allocation rather than a trading position. The S-1 stated: “The Company has ownership and control of its digital assets, which consist of Bitcoin, and uses, and expects to continue to use, third-party custodians to hold its Bitcoin.”
Analysts at Grayscale noted that SpaceX is poised to become the most valuable public company to own Bitcoin by market capitalization — even as… strategy It is still the largest in terms of number of coins with over 843,000 BTC.
