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Elon Musk’s SpaceX commenced trading on the Nasdaq today under the ticker SPCX — and it did not arrive without assets.
The corporation formally joined the public Bitcoin treasury rankings as the 8th biggest holder with 18,712 BTC, a standing that had been established over several years prior to its landmark IPO debut confirming the full extent of the reserves.
SpaceX’s S-1 submission to the Securities and Exchange Commission initially revealed the 18,712 BTC position back in May, valued at roughly $1.29 billion at the time of its filing.
The total cost basis was recorded at $661 million — an average purchase price of approximately $35,324 per coin — indicating the company began acquiring Bitcoin in late 2023 or earlier. At current prices near $63,000, the holdings are worth approximately $1.19 billion.
The revelation somewhat surprised the market. Blockchain analytics firm Arkham Intelligence had previously estimated SpaceX’s reserves as low as 6,095 BTC, and the BitcoinTreasuries.net May 2026 Corporate Adoption Report suggested its pre-IPO private estimate was merely 8,285 BTC.
JUST IN: Elon Musk's SpaceX officially becomes 8th largest public Bitcoin holder with 18,712 BTC 🚀 pic.twitter.com/04n3AyFC3T
— Bitcoin Magazine (@BitcoinMagazine) June 12, 2026
The actual confirmed amount — more than twice those estimations — made SpaceX’s announcement the second-largest Bitcoin treasury disclosure of May, trailing only Strategy’s 25,404 BTC in monthly acquisitions and representing over a third of all public treasury expansion before divestitures.
“We anticipate SpaceX will be among the top ten publicly listed Bitcoin treasuries following its projected June 12 IPO,” BitcoinTreasuries.net stated in its May report — a prediction that has now been realized.
The live rankings, updated as of June 11, position SpaceX at #8, situated just behind Strive (19,032 BTC at #7) and just ahead of Coinbase Global (16,492 BTC at #9).
SpaceX shares debut above initial valuation
The IPO itself is significant, even apart from the Bitcoin aspect.
SpaceX set its share price at $135 on June 11, securing approximately $75 billion and valuing the enterprise at around $1.75 trillion.
Current reports suggest the stock might begin trading at $171 per share, while other accounts indicate $155 per share. At such valuations, SpaceX’s worth would surge to approximately $2.2 trillion, potentially establishing Elon Musk as the world’s first trillionaire.
The listing, managed by Goldman Sachs and Morgan Stanley, stands as one of the most substantial stock market debuts in U.S. history, exceeding Saudi Aramco’s $29 billion IPO in 2019.
The timing of SpaceX’s entrance into the public cryptocurrency domain is noteworthy considering prevailing market challenges. Bitcoin has decreased by over 50% from its peak of more than $126,000, fluctuating around $64,000 in recent trading sessions, with spot Bitcoin ETFs experiencing outflows totaling $2.26 billion over two weeks.
Nevertheless, SpaceX’s Bitcoin holdings appear to represent a long-term balance-sheet allocation rather than a speculative trading strategy. The S-1 filing noted: “The Company possesses ownership of and exercises control over its digital assets, which comprise Bitcoin, and engages, and anticipates continuing to engage, third-party custodians to safeguard its Bitcoin.”
Analysts at Grayscale observed that SpaceX is positioned to become the most valuable public company holding Bitcoin by market capitalization — even as Strategy remains the leader in terms of coin quantity with over 843,000 BTC.
Based on materials from : bitcoinmagazine.com