Elon Musk's SpaceX IPO Filing Reveals $1.45 Billion Bitcoin Position
SpaceX’s IPO filing shows it holds 18,712 Bitcoin, valued at $1.45 billion as of December 31, 2024. The Bitcoin, acquired for $661 million in 2021, is kept with third-party custodians. This makes SpaceX one of the top 10 largest corporate Bitcoin holders. Although the company initially bought 25,724 Bitcoin, it trimmed its holdings in prior years. In 2023, SpaceX posted a $112 million unrealized loss on its Bitcoin, but in 2024 recorded a $955 million paper gain. Tesla, another Musk-led company, holds 11,509 Bitcoin, having decreased its position during the 2022 crypto downturn. Elon Musk has expressed support for Bitcoin, but reversed Tesla’s BTC payment policy in 2021 over environmental concerns. Musk is also known for promoting Dogecoin; however, the IPO filing does not mention Dogecoin or Musk’s support for it.
