SpaceX reveals $1.3B Bitcoin reserve ahead of IPO

SpaceX has revealed a significant Bitcoin reserve, holding 18,712 BTC valued at $1.29 billion as of March 31, 2026, according to an S-1 registration statement filed on May 20. The company acquired these digital assets for a total cost of $661 million, with an average purchase price of approximately $35,300 per coin. This Bitcoin allocation constitutes about 1.8% of SpaceX's total assets and is classified as a strategic reserve, distinct from its core business model.

The disclosure comes as SpaceX gears up for an initial public offering (IPO) planned for early June 2026, providing public markets with their first official view of the company's digital asset strategy. On-chain analysts had previously estimated SpaceX's holdings to be considerably lower, around 8,285 BTC, highlighting the limitations of blockchain transparency for institutional investors utilizing custodial solutions or over-the-counter desks.

SpaceX's Bitcoin journey began years ago, with substantial acquisitions around 2021. At its peak, the company held nearly 28,000 BTC. However, during the 2022 market downturn, SpaceX reduced its position by approximately 70%, bringing it to the current 18,712 BTC. Despite Bitcoin's volatility, the company has maintained this substantial position through a full bear market cycle, framing it as a hedge against inflation and currency fluctuations, akin to digital gold.