SpaceX’s S1 filing with the SEC revealed that the company holds 18,712 Bitcoin (BTC), valued at more than $1 billion. After today’s IPO (Initial Public Offering), the company will become the second largest public Bitcoin-holding company in the world, second to Strategy with its 845,256 Bitcoin (BTC). Let’s discuss how SpaceX may use its massive BTC holdings after it goes public.
What Will SpaceX Do With Its Bitcoin Holdings?
SpaceX’s Bitcoin holdings far surpass that of Tesla’s 11,509 BTC. The numbers display a sharp contrast in how the two companies approach digital assets. While Tesla has periodically adjusted its BTC exposure, SpaceX seems to follow a long-term treasury reserve strategy. A similar sentiment has expressed in Bloomberg report which suggested that SpaceX could use its BTC holdings as a “strategic reserve for excess cash.”
The SpaceX IPO (Initial Public Offering) may have drained some liquidity from the crypto market over the last few weeks. The falling price of Bitcoin (BTC) has led to many firms off loading their BTC exposure. Even strategy sold some of its BTC amid falling prices.
The current market is dominated by an AI narrative. SpaceX’s acquisition of xAI earlier this year also puts it in competition with other AI-based stocks, such as Nvidia (NVDA), Micron (MU), etc. One stark difference between these companies could be SpaceX’s massive exposure to Bitcoin (BTC), which the other companies officially do not have.
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SpaceX’s crypto exposure could lead to investors easing up on the crypto market, which has faced substantial challenges since late 2025. High inflation and the ongoing US-Iran conflict has led to an exodus of investors from the crypto market. Bitcoin (BTC) is leading the descent, briefly falling to below the $60,000 mark earlier this month.