Elon Musk’s SpaceX commenced trading on the Nasdaq today under the ticker SPCX, arriving with a notable asset in its portfolio.

The company has officially secured a position on the public Bitcoin treasury leaderboard, ranking as the 8th largest holder with 18,712 BTC. This substantial position has been cultivated over a number of years, with the company’s historic IPO confirming the full extent of its Bitcoin holdings.

The 18,712 BTC position was first disclosed in SpaceX’s S-1 filing with the Securities and Exchange Commission in May, where it was valued at approximately $1.29 billion at the time of the filing.

The reported cost basis for this position was $661 million, resulting in an average acquisition price of around $35,324 per coin. This information implies that the company began accumulating Bitcoin in late 2023 or earlier. At recent prices approaching $63,000, the value of this position is estimated to be around $1.19 billion.

Market reactions to the disclosure were somewhat unexpected. Blockchain analytics firm Arkham Intelligence had previously estimated SpaceX’s holdings to be as low as 6,095 BTC, while the BitcoinTreasuries.net May 2026 Corporate Adoption Report suggested a private estimate of only 8,285 BTC prior to the IPO.

The confirmed figure—significantly surpassing previous estimates—represented the second-largest Bitcoin treasury disclosure in May, trailing only Strategy’s monthly purchases of 25,404 BTC. This accounted for over one-third of all public treasury growth prior to sell-offs.

BitcoinTreasuries.net had anticipated SpaceX’s position among the top ten publicly traded Bitcoin treasuries following its IPO, and this forecast has now been validated.

As of June 11, the updated leaderboard confirms SpaceX at rank #8, positioned just behind Strive (19,032 BTC at #7) and ahead of Coinbase Global (16,492 BTC at #9).

SpaceX Shares Debut Higher Than Initial Pricing

The IPO is momentous in its own right, independent of the Bitcoin-related news.

On June 11, SpaceX priced its shares at $135, raising approximately $75 billion and valuing the company at about $1.75 trillion.

Reports are now suggesting that the stock could debut at $171 per share, while other sources indicate an initial trading price of $155. At these rates, SpaceX’s valuation could soar to approximately $2.2 trillion, potentially positioning Elon Musk as the world’s first trillionaire.

This listing, spearheaded by Goldman Sachs and Morgan Stanley, ranks among the largest stock market debuts in U.S. history, exceeding Saudi Aramco’s $29 billion IPO in 2019.

The timing of SpaceX’s venture into the public cryptocurrency domain is especially noteworthy amid prevailing market challenges. Bitcoin has experienced a decline of over 50% from its all-time peak above $126,000, currently fluctuating around $64,000. Spot Bitcoin ETFs have also faced significant outflows amounting to $2.26 billion over the past two weeks.

Nonetheless, SpaceX’s Bitcoin position appears to reflect a long-term investment strategy rather than a trading maneuver. The S-1 filing noted: “The Company has ownership of and control over its digital assets, which consist of Bitcoin, and utilizes, and expects to continue to utilize third-party custodians to hold its Bitcoin.”

Analysts at Grayscale indicated that SpaceX is set to become the most valuable public company holding Bitcoin by market capitalization, despite Strategy maintaining the largest coin count with over 843,000 BTC.

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