SpaceX’s Nasdaq debut includes 18,712 BTC as a strategic cash reserve, marking the largest bitcoin position tied to an IPO.
SpaceX’s Nasdaq listing disclosed a $1.29 billion bitcoin reserve, comprising 18,712 BTC purchased for $661 million. The position is framed as a strategic cash reserve, not a core business asset, within the company’s $1.8 trillion valuation.
This marks the first time a major non-crypto company has included bitcoin in its treasury at such scale during an IPO. Unlike dedicated crypto firms, SpaceX treats the holding as a small, non-core asset, potentially setting a precedent for corporate balance sheets.
The market will watch how SpaceX manages earnings volatility from fair-value bitcoin accounting, which could influence other IPO-bound companies, including AI firms, to adopt similar reserves.