SpaceX plans to price its initial public offering at $135 per share, targeting a record $75 billion in proceeds and a valuation of $1.75 trillion, according to its SEC filing.
The company intends to sell 555.6 million shares in the offering. At that scale, the IPO would rank among the largest ever listings and represent a watershed moment for Elon Musk’s privately held space and satellite venture.
The transaction is also expected to affect the broader cryptocurrency market.
As of March 31, SpaceX held 18,712 bitcoin, valued at $1.29 billion, placing it among the most substantial corporate bitcoin holders. A public listing would make these reserves publicly visible, granting investors indirect exposure to bitcoin through equity ownership.
The company’s crypto holdings have attracted heightened scrutiny, particularly after reports that Elon Musk has considered integrating SpaceX with Tesla (TSLA). Tesla already possesses one of the largest corporate bitcoin reserves among public firms, with over 11,500 BTC.
A merger of Tesla and SpaceX would place Musk in control of one of the most extensive corporate bitcoin portfolios in the public markets. However, neither entity has disclosed any formal merger plans.
The IPO could test crypto’s ability to draw capital amid a crowded risk‑asset environment. The anticipated June listing, together with expected fundraising by AI startups OpenAI and Anthropic, may mobilize more than $240 billion by year‑end, potentially diverting liquidity from technology equities, AI projects, and digital assets as retail and institutional investors reallocate resources.
Because bitcoin and other digital assets vie for the same risk‑on capital as high‑growth equities, heightened demand for SpaceX and similar marquee offerings could exert downward pressure on crypto prices in the short term.