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SpaceX S-1 Reveals 18,712 Bitcoin as Hyperliquid's Pre-IPO Market Prices SPCX

The filing shows SpaceX held 18,712 bitcoin worth about $1.45 billion and says pre-IPO trading briefly implied a valuation above $2.5 trillion.

  • SpaceX publicly filed its S-1 registration statement with the SEC on Wednesday, confirming for the first time that Elon Musk's company holds 18,712 BTC purchased for roughly $661 million at an average price of about $35,320 per coin.
  • The company first added BTC to its balance sheet in 2021 with an initial purchase of 25,724 coins, maintaining this position unchanged since the end of 2024 without new purchases or sales.
  • Financial filings reveal a $955 million gain on holdings in 2024 and a $112 million unrealized loss in 2025, with the position now worth approximately $1.45 billion at current prices near $77,000.
  • Pre-IPO perpetuals for SPCX launched on Hyperliquid last Sunday, with the contract spiking to $216 within hours and pushing the implied valuation above $2.5 trillion before settling near $203.
  • Seeking a valuation of more than $1.5 trillion with Goldman Sachs and Morgan Stanley as lead underwriters, SpaceX targets a June 11 Nasdaq listing, though David Schamis, Founding Partner of Atlas Merchant Capital, urged Musk not to underprice the IPO.
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ZyCrypto broke the news on Wednesday, May 20, 2026.
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