SpaceX discusses secondary share sale…reassessment of company valuation

SpaceX, led by Elon Musk, is reported to be discussing the possibility of a secondary share sale (secondary). There were also observations in the blockchain industry that SpaceX recently transferred bitcoin (BTC) it held to a new wallet.

On the 5th (local time), the Wall Street Journal (WSJ) reported that SpaceX is considering a secondary share sale targeting existing shareholders' stakes. Previously, SpaceX had been gradually raising its company valuation through internal share sales and share repurchase transactions.

Markets say there have been cases in which the valuation mentioned in SpaceX's recent transactions expanded to the level of USD 350 billion to USD 400 billion. The Financial Times (FT) reported circumstances indicating that SpaceX was pursuing a $1 billion share transaction and valuing the company at USD 400 billion. U.S. media also introduced cases showing that SpaceX discussed a valuation of around USD 350 billion through insider equity transactions.

Meanwhile, in the virtual asset (cryptocurrency) market, there were observations that SpaceX transferred bitcoin to a new wallet, but the purpose of the transfer was not confirmed. The market has suggested various possibilities such as enhanced security or changes in wallet management systems, but no official company-level explanation has been released.

If this secondary share sale discussion materializes, the market's reference points for SpaceX's circulating share price and company valuation could be reset. However, because a secondary's transaction structure means the amount for sale and the composition of participating investors act as key variables, some observers note that volatility may continue until the actual transaction terms and scale are disclosed.