SpaceX is working toward an IPO that could value the company at about $1.5 trillion, making it the largest public market offering of this scale, according to Bloomberg.
If that happens, investors will not only buy into rockets and satellites. They also want to buy into a company that has thousands of bitcoin and has already used dogecoin to fund a mission to the Moon.
A Bloomberg report late Tuesday said the Elon Musk-run company is moving forward with plans for an initial public offering that would seek to raise “significantly more than $30 billion,” with a goal of a valuation in the $1.5 trillion range and an IPO as soon as mid-to-late 2026.
On that scale, even small balance distributions matter.
Arkham Intelligence, a blockchain analytics firm that tracks identified entities, lists a wallet cluster labeled “SpaceX” with about 3,991 BTC, worth about $369 million at a bitcoin price of about $92,500.
The addresses are labeled as being held via Coinbase Prime custody, and the balance history chart indicates that the holdings have fluctuated over the past several years – rising sharply during the 2021-2022 bull market, then falling and later rebuilding through 2024 and 2025.
Recent transfers in Arkham’s view show large internal movements on bitcoin’s base layer, with two transactions of just over 1,000 BTC each in the past week, along with smaller flows between Coinbase Prime and addresses in the cluster.
It is worth noting that these transfers may be internal transfers as opposed to purchases or sales.
While the deal is still more than a year away and dependent on market conditions, Musk’s proximity to crypto continues to amplify any developments.
Musk’s influence on dogecoin is well-documented, from him posting memes that moved markets to SpaceX accepting the token for its DOGE-1 moon mission.
His companies were among the earliest institutional bitcoin adopters, with renewable energy technology company Tesla reporting over 11,000 BTC holdings on its balance sheet.
A SpaceX IPO would give him fresh capital for Starlink expansion and chip-heavy space data centers, potentially expanding his influence in sectors that cross both AI and crypto-infrastructure.
Meanwhile, early data from prediction market Polymarket shows growing confidence that SpaceX’s IPO valuation could exceed $1 trillion, with traders assigning a 67% probability of the market cap surpassing the benchmark as of early Wednesday.
