In a filing with the U.S. Securities and Exchange Commission (SEC), SpaceX has revealed that it holds 18,712 bitcoin, currently worth around $1.45 billion. Although Elon Musk previously revealed that SpaceX held bitcoin on its balance sheet, the exact amount was unknown, and blockchain trackers had largely underestimated the company’s total holdings.
SpaceX is thought to have first built its bitcoin position in 2021 during the height of the pandemic-era crypto surge and originally acquired its holdings at a total cost of $661 million. Musk revealed SpaceX held some bitcoin on its balance sheet during a panel discussion that also included Twitter co-founder and current Block (formerly Square) CEO Jack Dorsey. The holdings delivered a $955 million paper gain in 2024 before posting a $112 million unrealized loss in 2025, and the overall position sits well in the green. Once its highly anticipated initial public offering (IPO) closes, SpaceX will rank as the seventh-largest corporate bitcoin holder among publicly traded companies, according to data from BitcoinTreasuries. Notably, its stash already exceeds that of the crypto exchange Coinbase by more than 2,000 bitcoin. Blockchain analysts had previously spotted only some of the SpaceX bitcoin wallets and guessed the total was closer to 8,000 coins.
Elon Musk’s other major company, Tesla, also maintains bitcoin on its balance sheet. As of the latest quarterly report in early 2026, Tesla holds 11,509 bitcoin. The automaker briefly allowed customers to buy vehicles with bitcoin in early 2021 before reversing the policy over environmental concerns about the network’s heavy reliance on non-renewable energy sources for mining at the time.
Critics have since dialed back those ESG complaints as renewable energy use in mining has climbed, and some, including Musk, have even indicated that bitcoin mining can be beneficial for the economics of renewables. Musk previously stated that Tesla would resume accepting bitcoin payments once 50% of the Bitcoin network’s hashrate ran on renewables, but the company never restarted the option. Tesla did sell roughly 75% of its bitcoin holdings at one point, but it’s unclear if SpaceX has ever sold any of its stash.
Musk has long favored Dogecoin over Bitcoin on a personal level, although he posts about it far less often than he once did. Neither Tesla nor SpaceX holds any Dogecoin on its corporate books; however, Tesla does accept the altcoin for smaller accessories and merchandise items in its online shop. Musk has cited the coin’s improved on-chain transaction capacity, its built-in perpetual inflation that was added by accident, and, perhaps above all else, the enduring appeal of the doge meme as reasons for his support. He has repeatedly said that “the most entertaining outcome is the most likely” when discussing Dogecoin’s shot at becoming a major global currency.
The coin’s price spiked to nearly $1 when Musk hosted Saturday Night Live five years ago, but it now trades around $0.10. Those earlier tweet-driven swings prompted a 2024 lawsuit accusing Musk and Tesla of market manipulation and securities fraud. A federal judge dismissed the case later that year, calling Musk’s statements aspirational puffery rather than actionable claims.
The SpaceX IPO filing also underscores how large the public debut will become. The company expects to raise as much as $75 billion, which would make it the biggest IPO in history and easily top Saudi Aramco’s 2020 record of $29.4 billion. At a targeted valuation above $2 trillion, the offering could make Musk the world’s first trillionaire. Musk will also keep more than 85% of the voting power after the shares begin trading on Nasdaq under the ticker SPCX, and he will remain CEO, chairman, and chief technology officer, with the ability to appoint or remove any board member and the sole authority to fire himself.
Even though SpaceX stock has not yet reached the public market, traders are already betting on its valuation through derivatives. Prediction market platform Polymarket currently gives more than a 70% chance that the IPO will price above $2 trillion, and various crypto exchanges, including Binance and Hyperliquid, have rolled out pre-IPO perpetual contracts tied to SpaceX’s expected share performance.
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