SpaceX’s Bitcoin holdings moved into sharper focus after Arkham data showed the rocket and satellite company holding more than $637 million worth of BTC. The disclosure lands as SpaceX eyes a potential blockbuster public listing, with recent reports pointing to a possible Nasdaq debut as early as June 12 and a target raise of about $75 billion at a valuation near $1.75 trillion. For market watchers, the Bitcoin position adds another layer to the IPO narrative, because a company already central to aerospace, satellites and private-market speculation may also enter public markets as one of the largest private corporate Bitcoin holders.
SpaceX could IPO at 2 TRILLION dollars.
They hold $637 Million of Bitcoin.
SpaceX is about to be the 6th largest public company in the world… and they are bullish on Bitcoin. pic.twitter.com/lcCPxdtkPp
— Arkham (@arkham) May 18, 2026
Corporate Bitcoin Holdings Meet IPO Expectations
The scale of the potential flotation is difficult to ignore. A listing near the projected valuation would make SpaceX the biggest stock market debut ever and could place it among the largest public companies globally. The IPO calendar may also include AI heavyweights Anthropic and OpenAI, but SpaceX’s Bitcoin balance gives its story a distinct treasury angle. The equity event would carry a crypto balance-sheet subplot, forcing investors to consider whether BTC exposure is incidental, strategic or simply part of a broader corporate treasury posture shaped during earlier adoption cycles.
Arkham’s data puts SpaceX among the two biggest Bitcoin-holding private companies, alongside Tether. The comparison is striking because most high-profile corporate Bitcoin attention has centered on public companies and exchange-traded vehicles. Strategy remains the dominant public corporate holder with 843,738 BTC after accumulating since August 2020, even surpassing major ETF issuers such as BlackRock. SpaceX sits in a different category, private, harder to value from the outside and now potentially heading toward markets where its Bitcoin position could become more visible to shareholders.
The timing is awkward for Bitcoin itself. BTC had fallen for three straight days and was down 1.02% over 24 hours at $77,462 when the figure circulated. That means SpaceX’s holding is being discussed during market weakness, not a euphoric breakout. Coinbase remains the top exchange holder, with Binance, Robinhood and Upbit also appearing among major exchange balances. Still, the bigger signal is corporate normalization, as Bitcoin increasingly appears across operating companies, exchanges, stablecoin issuers and treasury strategies rather than remaining confined to crypto-native balance sheets alone as IPO expectations intensify and public-market scrutiny expands for institutions tracking treasury risk this cycle.
