8,285 Bitcoin, 29 Satellites, One Massive IPO: SpaceX’s Big Week

At its peak, SpaceX sat on roughly 28,000 Bitcoin — a place then valued at round $1.8 billion. Today, that quantity stands at 8,285 BTC, value roughly $574 million. The firm shed almost 70% of its authentic holdings over a two-year stretch that coincided with one in all crypto’s worst downturns.

A Treasury Quietly Cut Down

In August 2023, a Wall Street Journal report primarily based on reviewed monetary paperwork revealed that SpaceX wrote down $373 million in Bitcoin worth throughout 2021 and 2022 and had offered its cryptocurrency holdings, although the extent of the sale was not disclosed.

The disclosure despatched Bitcoin briefly beneath $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, reviews famous, tracked intently with the collapse of main crypto corporations together with Terraform Labs and FTX.

That lowered stack is now heading into the highlight. SpaceX is making ready for what might be the biggest preliminary public providing in historical past — a list that Bloomberg reported in late (*29*) 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 figure.

What The IPO Changes

At a $1.75 trillion valuation, the $574 million in Bitcoin on SpaceX’s books is a drop within the ocean. But the symbolism carries actual weight. Very few of the world’s largest corporations maintain Bitcoin as a steadiness sheet asset, and an organization of SpaceX’s scale going public with BTC in its books would put that apply in entrance of a brand new class of institutional traders.

On March 19, SpaceX launched 29 Starlink satellites from Cape Canaveral aboard a Falcon 9 rocket, a routine mission for an organization that’s now the world’s busiest launch supplier.

Starlink’s constellation has grown to almost 10,000 satellites in orbit. Data 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 12 months earlier than. That progress 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. Strategy, 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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