SpaceX officially confirmed its plans to go public on Wednesday, setting the stage for what could become the largest initial public offering in history and potentially push CEO Elon Musk to become the world’s first billionaire.
The rocket and satellite Internet company filed its S-1 registration statement with the U.S. Securities and Exchange Commission, giving investors their first detailed look inside one of the world’s most valuable private firms ahead of an initial public offering expected next month.
SpaceX as of March 31 had 18,712 bitcoins on its balance sheet at a fair value of $1.29 billion, according to the document. Those holdings would be worth about $1.45 billion today, and bitcoin would trade just above $77,000.
The holding places the company among a small group of large corporations with significant bitcoin holdings. Musk’s other company, Tesla, has 11,509 bitcoins on its balance sheet, according to data from BitcoinTreasuries. Michael Saylor’s strategy currently has the largest amount with 843,738 bitcoins.
SpaceX is reportedly seeking a valuation of more than $1.5 trillion, with reports of a potential valuation of $2 trillion. If successful, the company would immediately rank among the world’s 10 most valuable publicly traded companies, alongside Apple, Microsoft and Nvidia.
If it reaches the upper end of the valuation, the stock could also surpass Saudi Aramco’s 2020 debut as the largest initial public offering in history. The Saudi oil giant raised $29.4 billion from investors in its public offering, valuing it at around $1.7 trillion.
Investor interest is expected to be strong due to SpaceX’s dominant position in both commercial rockets and satellite internet through its Starlink business. The company has gained a major advantage over its competitors with reusable launch systems and a rapidly expanding global satellite network.
The S-1 filing offers a rare look at SpaceX’s finances, including revenue growth, capital spending, legal risks and ownership structure. Investors had closely watched the presentation for clues about how much voting power Musk would retain after the company went public. The company had 2025 revenue of $18.7 billion, up from $14 billion in 2024, according to the document.
Musk already controls Tesla, xAI and social media platform X, making SpaceX one of the most anticipated tech listings in years. For SpaceX, Musk will be its CEO, CTO and chairman of the board of directors.
The IPO would also mark another milestone in bitcoin adoption in corporate finance, as big tech companies continue to add digital assets to their balance sheets.
