The initial public offering (IPO) of SpaceX, the aerospace manufacturer and launch service provider founded by Elon Musk, revealed a Bitcoin position worth $1.45 billion on May 20, 2026, reinforcing how important the digital asset is to the tech CEO’s strategy.
SpaceX, which has held 18,712 Bitcoin purchased for $661 million as of Dec. 31, started adding the asset to its balance sheet in 2021. This is according to the much-awaited SEC filing. The position has remained the same from the company’s balance at year-end of 2024.
SpaceX Among Top Companies with Largest Bitcoin Holdings
The hoard, which the SEC filing notes has been held with outsourced custodians, places SpaceX among the 10 largest corporate holders of Bitcoin. During the cryptocurrency boom in the pandemic era, Musk filled the company’s balance sheet with an initial 25,724 Bitcoin, says Bitcoin Treasuries.
In 2024, SpaceX recorded a $955 million gain from holding Bitcoin. But in 2025, the company plotted a $112 million unrealized loss on its virtual asset holdings.
On-chain shifts in 2025 suggested that the tech chief’s most lucrative venture had reduced its stash; roughly $143 million worth of Bitcoin were consolidated in a single wallet. Onlookers theorized at the time that the company controlled around 8,285 Bitcoin, yet researchers likely did not look at all of SpaceX’s wallets.
It wasn’t till the filing on May 19 was it evident that the firm sold a portion of its original Bitcoin stock in previous years, even if SpaceX has always maintained a sizeable position.
Tesla Holdings Were Also Reduced
Tesla, another company controlled by Musk, has 11,509 Bitcoin on its balance sheet. This position also grew smaller as the cryptocurrency market retreated in 2022.
In 2021, the year that Musk started stockpiling Bitcoin, he described it as “a good thing” on audio social media platform Clubhouse. He even identified himself as a supporter. For a period, Tesla accepted Bitcoin for payments, but the policy suddenly reversed that year. The tech founder cited concerns on what was formerly Twitter, regarding the size of the virtual asset’s carbon footprint.
It was common knowledge that for years, Musk had been one of Dogecoin’s biggest supporters. The tech chief was always observed to pump the meme coin’s price through his social media statements. Fanfare around Muskl later inspired the Department of Government Efficiency, or DOGE, a short-lived, cost-cutting advisory body.
The IPO filing on May 19 does not mention Musk’s “fav cryptocurrency.”
