Elon Musk’s SpaceX launched trading on the Nasdaq today under the ticker SPCX — and it didn’t arrive empty-handed.
The company officially entered the public Bitcoin treasury leaderboard as the 8th largest holder with 18,712 BTC, a position that had been building for years before its historic IPO debut confirmed the full size of the stash.
SpaceX’s S-1 filing with the Securities and Exchange Commission first disclosed the 18,712 BTC position back in May, valued at approximately $1.29 billion at the time of filing.
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. At today’s prices near $63,000, the position is worth approximately $1.19 billion.
The disclosure somewhat surprised the market. 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 that its pre-IPO private estimate stood at 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’s 25,404 BTC in monthly purchases and accounting for more than one-third of all public treasury growth before sales.
“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.
The live leaderboard, updated as of June 11, confirms SpaceX at rank #8, slotting in just behind Strive (19,032 BTC at #7) and just ahead of Coinbase Global (16,492 BTC at #9).
SpaceX shares debut higher than initial pricing
The IPO itself is historic, even without the Bitcoin angle.
SpaceX priced its shares at $135 on June 11, raising roughly $75 billion and valuing the company at about $1.75 trillion.
Reports now indicate the stock could debut at $171 per share with other reports saying $155 a share. At that price, SpaceX’s valuation would climb to approximately $2.2 trillion, potentially making Elon Musk the world’s first trillionaire.
The listing, led by Goldman Sachs and Morgan Stanley, ranks as one of the largest stock market debuts in U.S. history, surpassing Saudi Aramco’s $29 billion IPO in 2019.
The timing of SpaceX’s entry into the public crypto arena is notable given broader market headwinds. Bitcoin has shed 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.
Still, SpaceX’s Bitcoin position appears to be a long-term balance-sheet allocation rather than a trading posture. The S-1 stated: “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 remains the largest by coin count with over 843,000 BTC.
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