SpaceX disclosed in its S-1 listing filing that it holds 18712 bitcoins, with an average purchase cost of approximately $35000 per coin and a total cost of approximately $655 million. Based on current market prices, these bitcoins are worth over $1.45 billion. SpaceX has been accumulating Bitcoin since the beginning of 2021 without significant reductions, demonstrating a long-term strategic intention to hold it. This disclosure reinforces the narrative of 'Bitcoin as a corporate treasury asset', making it the seventh largest publicly traded company in the world to hold Bitcoin, with holdings even surpassing Tesla (approximately 11509 coins). Although Bitcoin holdings account for a relatively small proportion of its massive valuation target ($1.75 to $2 trillion), their symbolic significance is significant, indicating Musk's core company's long-term confidence in cryptocurrency. The on chain tracking platform previously underestimated SpaceX's holdings, estimating only about 8285 units, but the actual quantity exceeded the estimate by more than double, reflecting the blind spots in on chain monitoring brought by institutions through OTC channels and multiple wallet management.