Elon Musk’s SpaceX is advancing plans for an initial public offering that could raise “significantly more than $30 billion,” potentially valuing the company at around $1.5 trillion, Bloomberg reports. If completed, it would be the largest IPO in history by market capitalization.
At that scale, even modest holdings on the balance sheet take on added significance. SpaceX isn’t just a space company—it also holds thousands of bitcoin. Blockchain analytics firm Arkham Intelligence identifies a wallet cluster labeled “SpaceX” containing roughly 3,991 BTC, worth about $369 million at current prices near $92,500 per bitcoin. The holdings, managed through Coinbase Prime custody, have fluctuated over the years, surging during the 2021–2022 crypto rally, dropping afterward, and steadily rebuilding through 2024 and 2025.
Recent on-chain activity shows two transfers of just over 1,000 BTC each in the past week, alongside smaller movements within the wallet cluster. These are likely internal reallocations rather than market transactions.
Musk’s influence in the crypto space remains significant. SpaceX previously accepted dogecoin for its DOGE-1 lunar mission, and Tesla continues to hold over 11,000 BTC. Musk’s ongoing involvement with crypto continues to attract market attention to SpaceX developments.
An IPO would provide fresh capital to expand Starlink and build chip-heavy space data centers, potentially extending Musk’s footprint across sectors linked to AI and crypto infrastructure. Early prediction market data from Polymarket shows investors see strong upside, assigning a 67% probability that SpaceX’s IPO valuation could surpass $1 trillion.
