At its peak, SpaceX sat on roughly 28,000 Bitcoin — a place then valued at round $1.8 billion. At this time, that quantity stands at 8,285 BTC, value roughly $574 million. The corporate shed almost 70% of its authentic holdings over a two-year stretch that coincided with one in every of crypto’s worst downturns.
A Treasury Quietly Minimize Down
In August 2023, a Wall Road Journal report based mostly on reviewed monetary paperwork revealed that SpaceX wrote down $373 million in Bitcoin worth throughout 2021 and 2022 and had bought its cryptocurrency holdings, although the extent of the sale was not disclosed.
The disclosure despatched Bitcoin briefly under $25,000 and triggered over $386 million in futures liquidations. SpaceX, as a personal firm, was by no means required to clarify the sell-off publicly. The timing, studies famous, tracked intently with the collapse of main crypto corporations together with Terraform Labs and FTX.
BITCOIN COMPANY LAUNCHING SATELLITES
SpaceX simply launched 29 Starlink satellites – and holds 8,285 BTC ($573.8M).
With ~10,000 satellites in orbit and a possible $1.75T IPO, one of many world’s largest corporations is bringing Bitcoin onto its stability sheet. Learn extra under: pic.twitter.com/oUxtDoimee
— Arkham (@arkham) March 21, 2026
That lowered stack is now heading into the highlight. SpaceX is getting ready for what might be the biggest preliminary public providing in historical past — an inventory that Bloomberg reported in late February may increase as a lot as $50 billion and push the corporate’s valuation to round $1.75 trillion. For context, Saudi Aramco’s 2026 debut raised $29 billion. A SpaceX itemizing would blow previous that determine.
What The IPO Adjustments
At a $1.75 trillion valuation, the $574 million in Bitcoin on SpaceX’s books is a drop within the ocean. However the symbolism carries actual weight. Only a few of the world’s largest corporations maintain Bitcoin as a stability sheet asset, and an organization of SpaceX’s scale going public with BTC in its books would put that observe in entrance of a brand new class of institutional buyers.
On March 19, SpaceX launched 29 Starlink satellites from Cape Canaveral aboard a Falcon 9 rocket, a routine mission for a corporation that’s now the world’s busiest launch supplier.
Starlink’s constellation has grown to just about 10,000 satellites in orbit. Knowledge reveals the service had 9.2 million lively customers globally on the finish of 2025, and income is projected to hit $24 billion in 2026 — up from $10 billion the yr earlier than. That development is the engine driving SpaceX’s valuation case forward of the itemizing.
Arkham Intelligence, which tracks on-chain knowledge, locations SpaceX 18th amongst company Bitcoin holders worldwide. Technique, previously often called MicroStrategy, holds over 761,000 BTC and has set a public goal of reaching 1 million cash earlier than year-end 2026.
Bitcoin was buying and selling at roughly $70,650 on the time of publication.
Featured picture from Unsplash, chart from TradingView
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