In a significant development, SpaceX has disclosed its substantial bitcoin holdings through a filing with the U.S. Securities and Exchange Commission (SEC). The company currently holds 18,712 bitcoins, translating to an approximate value of $1.45 billion. This revelation adds clarity to Elon Musk’s earlier comments about the company’s investments in bitcoin, as blockchain trackers had previously underestimated SpaceX’s total bitcoin assets.
SpaceX is believed to have accumulated its bitcoin position during 2021, coinciding with a surge in cryptocurrency interest during the pandemic. The total acquisition cost for these assets was around $661 million. Musk initially mentioned this investment in a discussion that included Jack Dorsey, co-founder of Twitter and current CEO of Block (formerly known as Square). While the company’s bitcoin holdings have experienced fluctuations—recording a $955 million gain earlier in 2024 followed by a $112 million unrealized loss in 2025—overall, the investment remains profitable.
Once SpaceX completes its highly anticipated initial public offering (IPO), it is projected to become the seventh-largest corporate holder of bitcoin among publicly traded companies, according to BitcoinTreasuries data. Notably, its holdings surpass those of the cryptocurrency exchange Coinbase by over 2,000 bitcoins. Blockchain experts had previously estimated that SpaceX held closer to 8,000 bitcoins, relying on information from visible wallet addresses.
Elon Musk’s automotive company, Tesla, also maintains a position in bitcoin, holding 11,509 coins as of early 2026. Tesla briefly permitted customers to purchase vehicles with bitcoin in early 2021; however, the company retracted this option due to concerns surrounding the environmental impact of bitcoin mining. Critics have observed a shift in the conversation around bitcoin mining and its environmental, social, and governance (ESG) implications, particularly as the use of renewable energy in the mining process has increased. Musk had indicated that Tesla would consider resuming bitcoin payments once more than half of the network’s mining energy came from renewable sources, though that has yet to materialize. Tesla had sold approximately 75% of its bitcoin holdings at a previous point; it remains unclear if SpaceX has sold any of its bitcoin.
On a personal level, Musk has expressed a greater affinity for Dogecoin over bitcoin, although he mentions it less frequently than in the past. Neither Tesla nor SpaceX holds Dogecoin on their balance sheets; nonetheless, Tesla accepts the cryptocurrency for certain smaller transactions in its online shop. Musk has articulated several reasons for his support of Dogecoin, including its on-chain transaction efficiency, its inflationary model, and the cultural allure of the doge meme. He has commented that the most entertaining scenario is often the most likely, particularly regarding Dogecoin’s potential as a significant currency. Despite significant price volatility, including a peak near $1 during Musk’s Saturday Night Live appearance five years ago, Dogecoin currently trades around $0.10. This volatility has led to legal disputes; a 2024 lawsuit against Musk and Tesla over alleged market manipulation was dismissed by a federal judge, who deemed Musk’s remarks as aspirational rather than deceptive.
Looking ahead, the details of SpaceX’s IPO filing highlight the monumental scale of its planned public debut. The company anticipates raising as much as $75 billion, which would establish it as the largest IPO ever, surpassing Saudi Aramco’s 2020 record of $29.4 billion. With a proposed valuation exceeding $2 trillion, this offering could position Musk as the world’s first trillionaire. Following the IPO, Musk is expected to retain over 85% of the voting power, maintaining his roles as CEO, chairman, and chief technology officer, alongside the authority to appoint or dismiss board members, including himself.
Even before the company enters the public market, financial speculators have begun wagering on its valuation through derivatives. Prediction market platform Polymarket is currently estimating a greater than 70% likelihood that SpaceX will achieve a valuation exceeding $2 trillion. Additionally, various cryptocurrency exchanges, including Binance and Hyperliquid, have introduced pre-IPO perpetual contracts linked to SpaceX’s anticipated share performance, further underscoring the high stakes surrounding this upcoming IPO.
