SpaceX Is Going Public With $1.29 Billion in Bitcoin — Here’s What That Means for Crypto

TLDR

• SpaceX plans to raise $75 billion in an IPO, pricing shares at $135, valuing the company at up to $1.77 trillion
• The listing would bring SpaceX’s 18,712 bitcoin holding, worth about $1.29 billion, into public markets
• Elon Musk would retain 82.4% voting control after the offering despite owning roughly half the shares
• The IPO could surpass Saudi Aramco’s 2019 record listing of $29.4 billion
• Analysts warn the wave of mega IPOs could pull risk capital away from crypto markets in the short term

SpaceX has filed with the U.S. Securities and Exchange Commission to raise $75 billion through an initial public offering, pricing shares at $135 each. The company plans to sell 555.6 million shares, valuing the business at approximately $1.77 trillion.

If completed at that size, the listing would surpass Saudi Aramco’s 2019 IPO, which raised $29.4 billion and is currently the largest public offering on record. SpaceX said its shares are expected to begin trading next Friday, subject to regulatory approval and market conditions.

Elon Musk founded SpaceX in 2002. The company expanded beyond rockets to launch Starlink, a satellite internet service, which became a major commercial operation after 2021.

Musk Keeps Firm Control After Listing

Musk currently owns about half of SpaceX. After the IPO, he would still hold close to half of total shares, but his stake carries enhanced voting rights.

The filing said Musk would control 82.4% of SpaceX’s voting power following the offering. That structure gives him final say over major corporate decisions even as new shareholders come in.

At the proposed share price, Musk’s SpaceX stake alone would be worth around $841 billion. Combined with his Tesla holding, valued at roughly $300 billion at Wednesday’s close, his total net worth could approach $1.1 trillion.

Bitcoin Treasury Comes Into Public View

SpaceX held 18,712 bitcoin as of March 31, with a fair value of about $1.29 billion. A public listing would give ordinary investors indirect exposure to bitcoin through SpaceX shares.

That bitcoin holding has drawn attention alongside reports that Musk has explored merging SpaceX with Tesla. Tesla already holds more than 11,500 bitcoin on its balance sheet.

A combined entity would control one of the largest corporate bitcoin positions in public markets. Neither company has announced a formal merger plan.

IPO Wave Could Pressure Crypto Prices

SpaceX’s planned June listing is part of a broader wave of large fundraisings. AI companies Anthropic and OpenAI are also expected to go public, with combined fundraising from these listings estimated to exceed $240 billion by year-end.

Because bitcoin and other digital assets often compete for the same investment dollars as high-growth technology stocks, that volume of new equity issuance could redirect capital away from crypto.

Analysts say this does not guarantee a crypto selloff, but the scale of competing demand is a factor investors are watching.

SpaceX said IPO proceeds will fund rockets, Starlink, artificial intelligence projects, and space-based data centers. The company also noted that future share sales may be needed given the high capital costs of its operations.

In February, SpaceX merged with xAI, Musk’s artificial intelligence company linked to X, making AI a formal part of its long-term strategy.

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