[Bitcoin Asset Valuation Drops to Approximately $545 Million Ahead of SpaceX IPO, Potential Pressure for Disclosure of Unrealized Gains and Losses] Odaily Planet Daily News: On-chain data platform Arkham Intelligence shows that SpaceX currently holds approximately 8,285 bitcoins in a Coinbase Prime custodial account, valued at approximately $545 million based on the latest prices. This marks a decline of about $235 million from the valuation of approximately $780 million three months ago. During this period, the company did not reduce its holdings. SpaceX is planning to confidentially file for an IPO with the U.S. Securities and Exchange Commission (SEC) as early as March, aiming for a June listing. The company’s valuation could exceed $1.75 trillion, with a fundraising target of up to $50 billion, which, if achieved, would break the $29 billion IPO record set by Saudi Aramco in 2019. Data indicates that since early 2026, the number of bitcoins held by the company has remained stable at around 8,300. However, due to BTC price corrections, the book value has fluctuated significantly. At the end of 2021, the peak value of its BTC holdings once approached $2 billion, but it subsequently declined during the 2022 bear market, fluctuating between $400 million and $800 million over the past two years. Market analysts point out that once SpaceX submits its S-1 filing, it will need to disclose its exposure to crypto assets, and future financial reports may reflect the risks of unrealized gains and losses caused by bitcoin price fluctuations. Previously, Tesla attracted significant market attention due to similar book value fluctuations. However, on-chain data does not show any active trading activity by SpaceX. Unlike Tesla, which has engaged in buying and selling operations, SpaceX appears to favor a long-term holding strategy. (CoinDesk)