Bitcoin has failed to regain momentum following its crash from $126,000 per bitcoin in October last year, as one tiny bitcoin rival suddenly soars 1,000% and is declared bitcoin’s potential successor.
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The bitcoin price plummeted to lows of $60,000 per bitcoin in February, bouncing back to around $80,000 per though some are warning a fresh bitcoin price crash could be about to hit.
Now, as traders brace for Michael Saylor’s bitcoin acquisition company Strategy to announce a massive bitcoin game-changer, Elon Musk has revealed his rocket company SpaceX holds far more bitcoin than previously thought.
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Elon Musk, the Tesla and SpaceX chief executive, has revealed his companies hold more bitcoin than previously thought.
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SpaceX, combining xAI and the X platform formerly known as Twitter, has officially confirmed plans to go public, filing a S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) in preparation for an initial public offering (IPO) as soon as next month.
The filing revealed SpaceX holds just over 18,700 bitcoin at a fair value of $1.3 billion, acquired at a cost basis of just over $660 million, about $35,000 per bitcoin. The current bitcoin price would put them at $1.4 billion.
The company’s bitcoin is more than double the nearly 8,300 bitcoin blockchain sleuths with Arkham had previously linked to SpaceX.
An 18,700 bitcoin stash would make SpaceX the seventh-largest bitcoin holder, ahead of exchange Coinbase, which holds just under 16,500 bitcoin, according to BitcoinTreasuries.net.
Musk’s Tesla still holds around 10,000 bitcoin, a fraction of its $1.5 billion 2021 purchase, most of which was sold off in 2022.
While Musk has stepped back from the frontlines of bitcoin and crypto posting in recent years, he remains critical of the U.S. dollar, branding it “hopeless” and declaring energy “the true currency”—something some think is a reference to bitcoin.
In October, Musk posted to X that “bitcoin is based on energy: you can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy,” and agreeing that the “global arms race” toward artificial intelligence is the reason why gold, silver and bitcoin have all seen their prices soar in recent years.
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The bitcoin price has dropped sharply since late 2025.
Forbes Digital Assets
Bitcoin, which is secured by a network of so-called miners who use powerful computers to validate transactions in return for newly issued bitcoin, uses as much electricity each year as some small countries, with its energy demands climbing along with its price as more miners join the network.
Musk’s support for bitcoin and crypto has waned from its Covid-era peak, though Musk has continued to give backing to bitcoin, as well as his “favorite” cryptocurrency dogecoin.
However, the SpaceX filing made no mention of the meme-based dogecoin that Musk has championed or ethereum, both named by Musk as cryptocurrencies he has personally held.
SpaceX could be eyeing a valuation of up to $2 trillion, aiming to raise around $75 billion, in what would be the largest ever IPO and could herald artificial intelligence rivals OpenAI’s and Anthropic’s public listing plans.
The filing claimed the company is poised to tap the “largest actionable total addressable market [TAM] in human history,” estimating its quantifiable TAM at $28.5 trillion.
The company revealed first-quarter revenue of $4.7 billion and a $4.3 billion net loss, with Starlink, SpaceX’s satellite internet business, the group’s key profit and growth driver.
Meanwhile, bitcoin and crypto exchange Binance has launched perpetual futures that allow users to trade the anticipated valuations of private companies before their shares become publicly tradable, with SpaceX the first contract to go live.
“Pre-IPO perpetual futures is another example of how Binance is democratizing access to market opportunities by combining crypto-native infrastructure with major financial events. As interest in public listings continues to grow, we’re giving users a more flexible way to engage with anticipated IPOs earlier,” Shunyet Jan, head of spot and derivatives business at Binance, said in a press release.