According to the S-1 registration form filed with the US Securities and Exchange Commission (SEC) on May 20, the company’s highly anticipated initial public offering is set to drop as early as next month.
The release of the prospectus gave investors an unprecedented look under the hood of one of the planet's most valuable private enterprises.
The filing explicitly exposed the corporate treasury's digital asset holdings. As of the end of March, SpaceX was sitting on a massive stack of 18,712 BTC. The official paperwork pegged the fair value of these coins at $1.29 billion.
With Bitcoin currently trading around the $77,000 mark, the actual market value of Musk's crypto portfolio has swelled to roughly $1.45 billion.
Holding this much crypto instantly elevates the aerospace giant to the upper echelon of corporate whales. Meanwhile, Musk's other major venture, Tesla, continues diamond-handing its own stash of 11,509 BTC.
Valuations and revenue streams
As it heads into the IPO, SpaceX is targeting a jaw-dropping market valuation between $1.5 trillion and $2 trillion. A successful public launch would instantly send the company into the top 10 most valuable publicly traded firms worldwide, rubbing shoulders with tech titans like Apple, Microsoft, and Nvidia.
Market analysts believe the listing has a solid shot at shattering the all-time IPO record currently held by Saudi Aramco. The Arab oil giant previously pulled in $29.4 billion from investors, securing a valuation of roughly $1.7 trillion.
The S-1 document also peeled back the curtain on the space business's financial momentum. Corporate revenue for 2025 hit $18.7 billion, marking a solid jump from the $14 billion recorded in 2024.
The primary engines driving this growth remain the company's absolute dominance in reusable rocket launches and the aggressive global rollout of its Starlink satellite internet service. Looking ahead, SpaceX plans to dive deeper into artificial intelligence (AI) development, labeling the sector as a massive multi-trillion-dollar market opportunity.
Also Read:
This post is for informational purposes only and does not constitute advertising or investment advice. Please do your own research before making any decisions.
