Elon Musk’s aerospace and satellite company, SpaceX, has set its IPO price at $135 per share, resulting in a fully diluted valuation of approximately $1.8 trillion. The stock is expected to begin trading on Nasdaq this week under the ticker symbol SPCX.
Bitcoin positions enter the public spotlight
Beyond the scale of the listing itself, another point of focus is SpaceX’s substantial holding of Bitcoin. According to reports, the company held 18,712 BTC as of March 31. At a Bitcoin price of approximately $63,500, this asset stake is valued at nearly $1.2 billion.
SpaceX generated approximately $19 billion in revenue last year, primarily from rocket launches, government contracts, and its rapidly growing Starlink satellite internet service. However, the company has not yet achieved net profitability.
- IPO offering price: $135
- Fully diluted valuation: approximately $1.8 trillion
- Bitcoin holding: 18,712 BTC
Complements Tesla's cryptocurrency holdings
With the company’s listing, investors will be able to gain indirect exposure to SpaceX’s Bitcoin holdings on its balance sheet for the first time through owning SpaceX stock. This also leads some market participants to view its shares as another indirect way to access BTC.
SpaceX's Bitcoin position has attracted additional attention due to other companies owned by Musk. Tesla remains one of the publicly traded companies with one of the largest Bitcoin holdings, with over 11,500 BTC.
On-chain and U.S. stock market联动 attracts attention
The report also noted that SpaceX's listing is seen as a high-profile attempt to connect newly listed U.S. stocks with on-chain markets. Supporters believe this model has the potential to expand global investor participation and enhance trading liquidity.
However, the debate has also centered on issues such as regulation, custody, and market fragmentation. SpaceX’s listing thus not only tests the demand for large-cap tech stock offerings but also gauges the acceptance following further convergence between traditional capital markets and blockchain markets.