Summary
- SpaceX said in its S-1 registration statement that it holds 18,712 BTC worth about $1.45 billion.
- SpaceX’s average Bitcoin purchase price was about $35,320, giving it the world’s seventh-largest holding among public companies.
- SpaceX said it is pursuing an IPO aimed at raising about $75 billion and securing a valuation of $1.75 trillion to $2 trillion.
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Elon Musk’s space company SpaceX has disclosed Bitcoin holdings that far exceed market estimates during the process of filing for an initial public offering.
Cointelegraph reported on May 21 that SpaceX said in its S-1 registration statement for the IPO that it holds 18,712 BTC in total. At current prices, the holdings are worth about $1.45 billion.
The filing shows SpaceX bought the Bitcoin at an average price of about $35,320. That would rank as the seventh-largest Bitcoin holding among public companies.
The disclosure is well above previous market estimates. BitcoinTreasuries.NET and on-chain analytics firm Arkham had earlier estimated SpaceX’s holdings at about 8,285 BTC.
SpaceX began buying Bitcoin in early 2021, according to the filing. That was around the same time Tesla started investing in the cryptocurrency.
Tesla currently holds about 11,509 BTC, meaning SpaceX now holds more based on the disclosure.
SpaceX is pursuing an IPO with a target listing date of June 12. The company is reportedly seeking to raise about $75 billion and is targeting a valuation of $1.75 trillion to $2 trillion.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
