SpaceX's S-1 filing with the SEC discloses 18,712 bitcoin on its balance sheet at $1.45B fair value, purchased for just $661M. The company targets a $1.75T valuation in what could be the largest IPO in history.
SpaceX's S-1 filing with the SEC discloses 18,712 bitcoin on its balance sheet at $1.45B fair value, purchased for just $661M. The company targets a $1.75T valuation in what could be the largest IPO in history.
SpaceX officially filed its S-1 registration statement with the SEC on May 20, confirming plans for a Nasdaq listing under ticker SPCX. The filing reveals the company holds 18,712 BTC at a fair value of $1.45 billion as of May 2026 — purchased for $661 million, representing a 120% unrealized gain.
The holding places SpaceX among the largest corporate bitcoin treasuries. For comparison, Tesla holds 11,509 BTC while Strategy (formerly MicroStrategy) leads with 843,738 BTC.
SpaceX is targeting a $1.75 trillion valuation with an $80 billion raise, which would surpass Saudi Aramco's $29.4 billion debut as the largest IPO ever. The roadshow begins June 4 with listing expected June 12.
The filing also reveals Anthropic is contracted to pay SpaceX $1.25 billion per month for compute through 2029, highlighting the convergence of AI infrastructure and space-based data services. SpaceX generated $18.5 billion in revenue in 2025, with Starlink accounting for roughly 45%.
The company behind the world's biggest IPO also happens to be one of the largest corporate bitcoin holders — and nobody knew until now.
The real signal isn't just the $1.45B position — it's that SpaceX bought at an average cost of ~$35,300 per BTC and held through the entire cycle. This is not a treasury diversification story. This is conviction. When a company with $1.75T implied valuation holds 2.4% of its balance sheet in bitcoin, it normalizes BTC as a reserve asset at the highest levels of corporate finance. The IPO also creates a new avenue for indirect BTC exposure — every SPCX shareholder is effectively long bitcoin by proxy.
Securitize (NYSE: SECZ, ~$5B AUM) launched Securitize Stocks today at 13:00 UTC: 12 tokenized US mega-caps — including Apple, Microsoft, Nvidia, Tesla, Circle, Strategy and Palantir — each backed 1:1 by a real share, settling in USDC on Solana with Jump Trading running the proprietary AMM and clearing firm RQD* handling custody and settlement. It is the first product live under the SEC's five-year Innovation Exemption for onchain stock trading, granted September 17.
Anthropic's much-anticipated IPO prospectus — reported in detail by Reuters and the Financial Times — pursues a $2 trillion valuation while disclosing a $42 billion net loss for 2025 and plans to spend $518 billion on cloud, computing, and infrastructure in the coming year. Roughly 80 of the filing's 261 main-body pages cover risk factors, including that advanced AI could pose 'catastrophic or existential risks to humanity,' versus 48 pages describing the business. Nvidia separately disclosed that Anthropic has more than $180 billion in contracted compute commitments — 2.5GW of Nvidia infrastructure shipping through 2028.
Nvidia's board authorized an additional $150 billion in share repurchases on Monday — which the company says is the largest single authorization increase ever announced by a public company — lifting total remaining buyback capacity to $235 billion, expected to be spent through fiscal 2028. NVDA rose 2.8% to a $5.42 trillion market cap as Jensen Huang called AI 'a once-in-a-generation platform shift.'