SpaceX Reveals Significant Increase in Bitcoin Reserves Ahead of IPO

SpaceX's bitcoin holdings have been disclosed in the company's recent IPO filing, revealing a substantial increase in its crypto reserves. According to the filing, SpaceX held 18,712 BTC as of March 31, with a fair value of approximately $1.29 billion.

This is a significant departure from previous estimates, which had suggested around 8,285 BTC tied to SpaceX wallets in Coinbase Prime custody. However, it's worth noting that the filing doesn't necessarily indicate new purchases, but rather may simply reflect previously unreported crypto reserves.

SpaceX's bitcoin reserves are valued at $661 million for its basis and around $1.3 billion as fair value as of March 31, suggesting a 95% appreciation in value over cost. The company's holdings now surpass those of Tesla, which owns 11,509 BTC, but lag behind Strategy, owned by Bitcoin magnate Michael Saylor, with 843,738 BTC.