SpaceX’s official IPO filing revealed a Bitcoin position worth $1.45 billion on Wednesday, highlighting tech CEO Elon Musk’s quiet commitment to the digital asset.
The company, which added Bitcoin to its balance sheet in 2021, held 18,712 Bitcoin as of Dec. 31, purchased for $661 million, according to the much-anticipated SEC filing. The position was unchanged from the firm’s balance at the end of 2024.
The filing notes that the stash, which places the firm among the top 10 largest corporate holders of Bitcoin, continues to be held with third-party custodians. When Musk populated the company’s balance sheet during the pandemic-era crypto boom, the billionaire initially added 25,724 Bitcoin, according to Bitcoin Treasuries.
SpaceX recorded a $112 million unrealized loss on its holdings last year. In 2024, the company notched a $955 million gain on paper from holding the digital asset.
On-chain movements last year suggested that Musk’s most lucrative venture had pared down its stash, with roughly $143 million worth of Bitcoin being consolidated in a single wallet. At the time, onlookers theorized that the company controlled around 8,285 Bitcoin, yet on-chain researchers likely failed to identify all of SpaceX’s wallets.
Although the aerospace company has maintained a hefty position, Wednesday’s filing suggests that the firm trimmed a portion of its original stockpile in previous years. Tesla, meanwhile, owns 11,509 Bitcoin on its balance sheet, a position that grew smaller as the crypto market slid in 2022.
In 2021, Musk described Bitcoin as “a good thing” on audio social media platform Clubhouse, identifying himself as a supporter. After a period in which the tech mogul’s automaker accepted Bitcoin for payments, the policy abruptly reversed that year. At the time, Musk cited concerns on Twitter, now X, regarding the size of Bitcoin’s carbon footprint.
For years, Musk had fostered a reputation for being one of Dogecoin’s biggest cheerleaders. The billionaire developed a penchant for pumping the meme coin’s price through his social media presence. His fandom later inspired the Department of Government Efficiency, or DOGE, a short-lived, cost-cutting advisory entity.
Wednesday’s IPO filing makes no mention of Musk’s “fav cryptocurrency.”
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