SpaceX is weighing an initial public offering that would value the rocket company at $2 trillion, according to people familiar with the matter. The same people say SpaceX also holds $637 million in Bitcoin on its balance sheet — a detail that gives the planned listing a distinct crypto flavor.
A $2 trillion valuation
An IPO at that price tag would make SpaceX one of the most valuable public companies in the world, eclipsing nearly every tech giant outside the trillion-dollar club. The company, founded by Elon Musk, has long been private, funding its Starship and Starlink projects through venture rounds and internal cash flow. A public offering has been rumored for years, but this is the first time a specific valuation has been tied to it.
Bitcoin on the balance sheet
The $637 million Bitcoin position puts SpaceX among the largest corporate holders of the cryptocurrency — a list that already includes MicroStrategy and Tesla, another Musk-led company. The timing is notable: Bitcoin has been trading in a wide range this year, and a large corporate stash can attract both scrutiny and investor interest. SpaceX hasn't said when it acquired the Bitcoin or at what average price.
Musk has been vocal about crypto in the past, and Tesla still holds a meaningful amount of Bitcoin. The SpaceX disclosure, confirmed by a person briefed on the matter, suggests the company sees the asset as a treasury reserve rather than a speculative bet.
The IPO is still under consideration, with no timeline or exchange selected. SpaceX did not respond to requests for comment.
