With $300M in Bitcoin, SpaceX Brings Crypto to the World’s Biggest Upcoming IPO

Elon Musk’s SpaceX is moving forward with plans for an initial public offering that could raise “significantly more than $30 billion,” aiming for a valuation near $1.5 trillion, according to Bloomberg. If completed, it would be the largest IPO in history by market value.

At this scale, even relatively small balance-sheet holdings carry weight. SpaceX isn’t just selling rockets and satellites—it also holds a notable cryptocurrency portfolio. Blockchain analytics firm Arkham Intelligence identifies a cluster of SpaceX wallets containing around 3,991 BTC, worth roughly $369 million at current prices near $92,500 per bitcoin. Managed via Coinbase Prime custody, these holdings have fluctuated over the past several years, rising sharply during the 2021–2022 bull market, dipping afterward, and rebuilding through 2024 and 2025.

Recent on-chain activity shows two large bitcoin transfers of just over 1,000 BTC each, alongside smaller internal movements. These are likely internal reallocations rather than market transactions.

Musk’s connection to crypto is well documented. Beyond bitcoin, SpaceX has accepted dogecoin for its DOGE-1 lunar mission, while Tesla maintains significant bitcoin holdings. His engagement with the sector continues to amplify market attention around SpaceX developments.

An IPO would give Musk new capital to expand Starlink and build chip-intensive space data centers, potentially broadening his influence across AI and crypto-adjacent infrastructure. Early prediction market data from Polymarket suggest strong investor confidence, with a 67% probability that SpaceX’s IPO valuation could exceed $1 trillion.