Elon Musk’s SpaceX is preparing to become a public company. The company recently filed official paperwork with the U.S. Securities and Exchange Commission (SEC) for an initial public offering, also known as an IPO. One major detail from the filing quickly drew attention: SpaceX owns 18,712 bitcoin.

The filing showed that SpaceX bought the bitcoin for around $661 million in total. The company paid an average of about $35,000 per bitcoin. Because BTC’s price has increased, the holdings are now worth between $1.3 billion and $1.45 billion.

This makes SpaceX one of the biggest corporate bitcoin holders in the world. Only a small number of companies own more bitcoin. Reports said the company’s holdings are larger than those of digital asset exchange Coinbase.

Some researchers previously believed SpaceX had sold most of its bitcoin. Last year, blockchain tracking suggested the company held only around 8,000 BTC. However, the IPO filing showed that SpaceX still owns much more than expected.

SpaceX first started buying bitcoin in 2021 during a bull market. That same year, Elon Musk publicly supported Bitcoin and called it “a good thing” during an online discussion. Musk’s other company, Tesla, also bought bitcoin in 2021 but later sold a large part of its holdings when prices fell.

The IPO filing also gave investors a look at SpaceX’s finances. The company reported $4.69 billion in revenue during the first quarter of the year. However, it also recorded a net loss of $4.28 billion because of heavy spending on projects such as Starship rockets, artificial intelligence systems, and infrastructure expansion.

Even with the losses, many investors are expected to be interested in the IPO. SpaceX is the leading company in commercial rocket launches and also operates the Starlink satellite internet network. The company said it completed around 650 launches and carried more than 80% of the world’s orbital cargo in 2025.

The filing also revealed some of SpaceX’s future plans. The company hopes to build orbital data centers by 2028. These systems could support artificial intelligence projects using satellite-based computing powered by solar energy.

SpaceX described its future business opportunity as the “largest actionable total addressable market in human history.” The company estimated this market could be worth $28.5 trillion.

Elon Musk will continue to control the company after the IPO. SpaceX will use a dual-class share system that gives Musk stronger voting power than ordinary shareholders. This structure will allow him to remain in charge of major company decisions.

Reports say SpaceX is seeking a valuation of more than $1.5 trillion. Some estimates even suggest the company could be valued near $2 trillion. If that happens, the IPO could become one of the biggest public offerings ever.

The IPO could be important for the Bitcoin industry. Large technology companies holding bitcoin on their balance sheets is still relatively uncommon. SpaceX’s decision to keep such a large bitcoin reserve may encourage other companies to consider digital assets as part of their financial strategy.