Will SpaceX Sell Its $1.8B Bitcoin? Elon Musk Crypto Strategy Theories Surge

SpaceX has disclosed for the first time that it holds nearly $1.8 billion worth of Bitcoin ahead of its planned Nasdaq listing.

The move has revealed the company as one of the largest corporate crypto positions in the US and reignited debate over Elon Musk’s long-term crypto ambitions.

SpaceX and Bitcoin

In a Securities and Exchange Commission (SEC) filing published Tuesday before the company’s expected June IPO, the aerospace company said it owns 18,712 Bitcoin acquired at a cost basis of roughly $661 million.

At current Bitcoin prices, the holdings are now worth approximately $1.5 billion to $1.8 billion.

The filing showed SpaceX has held the same amount of Bitcoin since at least the end of 2024, marking the first audited confirmation of SpaceX’s exact Bitcoin holdings after years of speculation.

The move immediately drew attention, placing SpaceX among the world’s largest publicly known corporate Bitcoin holders.

Once SpaceX begins trading publicly, investors will gain indirect exposure to the company’s Bitcoin holdings through its balance sheet.

Speculation Over Eventual Tesla-SpaceX Bitcoin Powerhouse

The filing has also revived speculation about whether Musk’s companies could one day combine their crypto holdings through a broader corporate restructuring or merger.

Musk’s electric vehicle giant Tesla currently holds 11,509 Bitcoin, according to its latest quarterly filing.

The company maintained that position through the first quarter despite Bitcoin prices falling sharply earlier in the year.

Tesla first purchased $1.5 billion worth of Bitcoin in 2021 but later sold roughly 75% of its holdings in 2022 amid tightening liquidity conditions.

“If SpaceX and Tesla would merge, the combined entity would own 30,221 BTC and would be #5 on the ₿100,” one X post said.

Neither Tesla nor SpaceX has publicly indicated that any merger discussions are taking place.

However, the idea reflects how closely Musk’s business empire has become intertwined with digital assets over the past several years.

“Elon is everywhere lol. Even high up on the ₿100,” the post read.

Could SpaceX Eventually Sell Bitcoin?

The IPO disclosure has also triggered questions over whether SpaceX may eventually liquidate part of its Bitcoin position once public shareholders begin scrutinizing the company’s balance sheet more closely.

Public companies with large crypto holdings often face investor pressure over treasury risk management and capital allocation decisions.

While Bitcoin’s recent rally has significantly increased the value of SpaceX’s holdings, sharp swings in crypto prices can also create accounting losses.

If volatility causes a sharp price decrease, SpaceX could eventually monetize part of its Bitcoin reserves if it seeks additional liquidity for capital-intensive project.

However, the company’s already clear willingness to hold the same Bitcoin through multiple market downturns suggests management views the crypto as a strategic long-term reserve asset.

The company’s approach mirrors a broader shift among some corporations holding Bitcoin, spearheaded mainly by Michael Saylor’s Strategy.

Even if Tesla and SpaceX eventually combined their Bitcoin holdings, the merged entity would still remain far behind the world’s largest corporate Bitcoin holder.

Strategy currently owns 843,738 Bitcoin, according to company disclosures, dwarfing the combined 30,221 Bitcoin that Tesla and SpaceX would hold together based on their current reserves.

Elon Musk: “Most” Crypto Are Scams

The filing comes just a few weeks after Musk delivered one of his most skeptical public comments about the crypto industry.

During testimony tied to his ongoing OpenAI lawsuit, Musk said: “Some of them have merit, but most of them are scams.”

The remarks appeared to contrast with Musk’s years-long involvement in Bitcoin and wider crypto markets.

Tesla’s 2021 Bitcoin purchase was widely viewed as a watershed moment for institutional adoption of digital assets, while Musk’s repeated endorsements of Dogecoin helped propel the meme token into mainstream attention.

Tesla briefly accepted Bitcoin payments for vehicles before suspending the option over environmental concerns related to crypto mining.

Musk has also publicly stated that he personally owns Bitcoin, Ethereum and Dogecoin.

Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.

He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.

Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.

At CCN, Kurt’s work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.