SpaceX plans to price its initial public offering at $135 per share in a deal that would raise a record $75 billion and value the company at $1.75 trillion, the company said in a filing with the U.S. Securities and Exchange Commission.
The aerospace company plans to sell 555.6 million shares as part of the offering, according to the filing. If completed at the proposed size, the IPO would rank among the largest public listings in history and mark a major milestone for Elon Musk’s private rocket and satellite business.
The offering would also have implications for the cryptocurrency market.
SpaceX owned 18,712 bitcoins with a fair value of $1.29 billion as of March 31, making it one of the largest known corporate holders of the cryptocurrency. A public listing would bring those holdings to the public markets, giving investors indirect exposure to bitcoin through ownership of SpaceX shares.
The company’s position on bitcoin has attracted increased attention amid reports that Musk has explored combining SpaceX and electric vehicle maker Tesla (TSLA). Tesla already owns one of the largest corporate bitcoin treasuries among publicly traded companies, with more than 11,500 BTC.
If Tesla and SpaceX were to eventually merge, Musk could gain control of one of the largest corporate holdings of bitcoin on the public markets. However, neither company has announced a formal merger plan.
The IPO may also test whether cryptocurrencies can continue to attract capital amid a crowded market for risk assets. SpaceX’s planned June listing, combined with planned fundraising from AI companies OpenAI and Anthropic, is estimated to attract more than $240 billion by the end of the year, potentially diverting liquidity from technology stocks, AI investments and digital assets as retail and institutional investors reallocate capital.
Because bitcoin and other digital assets often compete for the same venture investment dollars as high-growth companies, an increase in demand for shares of SpaceX and other high-profile issuers could weigh on cryptocurrency prices in the near term.
