Elon Musk’s SpaceX is pressing ahead with plans for an initial public offering that could raise “significantly more than $30 billion,” according to Bloomberg, targeting a valuation near $1.5 trillion. If realized, it would mark the largest IPO ever by market value.

At that scale, even modest allocations on the company’s balance sheet take on added significance. SpaceX is not just a rocket and satellite company—it also holds a substantial cryptocurrency portfolio. Bloomberg reports that SpaceX’s identified wallet cluster contains roughly 3,991 BTC, valued at about $369 million at current prices near $92,500 per bitcoin. The holdings, managed via Coinbase Prime custody, have fluctuated over the years, rising sharply during the 2021–2022 crypto rally before dipping and gradually rebuilding through 2024 and 2025.

Blockchain analytics firm Arkham Intelligence notes recent activity in the wallets, including two transfers of just over 1,000 BTC each over the past week, alongside smaller internal movements. These could represent internal reallocations rather than market buys or sales.

Musk’s influence on the crypto space remains notable. Beyond bitcoin, SpaceX previously accepted dogecoin as payment for its DOGE-1 lunar mission, and Musk’s early support of Dogecoin and Tesla’s bitcoin holdings has reinforced his reputation as a crypto-friendly entrepreneur.

A successful IPO would provide SpaceX with fresh capital for Starlink expansion and chip-intensive space data centers, potentially extending Musk’s influence across sectors intersecting with AI and crypto infrastructure. Early data from prediction market Polymarket shows investors are betting on a high valuation, with a 67% probability that SpaceX’s IPO could surpass $1 trillion, reflecting strong market confidence in the company’s growth prospects.