APREX · EST. 2026
SpaceX Takes the Leap Towards Going Public
After months of speculation, it's now official: SpaceX filed its S-1 with the SEC on May 20, 2026, having confidentially submitted it on April 1. The company is aiming for a Nasdaq listing under the ticker SPCX, according to documents reported by Yahoo Finance. It is one of the most anticipated IPOs in years, given SpaceX's position as the world's leading private space company.
Nearly 19,000 Bitcoin on the Balance Sheet
Among the more surprising disclosures in the filing is SpaceX's crypto holdings. The company confirms it holds 18,712 Bitcoin. With a BTC price of over $77,000 as of May 21, 2026, this equates to a value of approximately $1.45 billion.
According to research material, SpaceX reportedly purchased these assets for a total of $661 million, or an average of nearly $35,000 per Bitcoin. This yields an unrealized gain of an estimated $789 million — a significant item in a prospectus. While it was reported in August 2023 that the company may have sold parts of its holdings, these reports were never formally confirmed, and the S-1 filing appears to contradict them.
Stablecoins for Starlink Payments
Crypto is not just a financial investment for SpaceX. According to research material, the company uses stablecoins to handle Starlink payments from customers in what venture capitalist Chamath Palihapitiya in 2024 referred to as “long-tail countries” — markets where currency risk and limited banking infrastructure make traditional payment solutions challenging. The model involves converting customer payments into stablecoins and then exchanging them back into US dollars, which reduces currency exposure and transaction costs.
Musk Nuances His Crypto View
Elon Musk, who leads both SpaceX and Tesla, has a complex relationship with cryptocurrency. In April 2026, he stated, according to research material, that he believes “most cryptocurrencies are scams,” but he clearly distinguishes between Bitcoin — which he emphasizes for its limited supply and network security — and other digital tokens he considers to have no real utility.
Musk confirmed back in 2021 that SpaceX owns Bitcoin, and that he personally invests in Bitcoin, Ethereum, and Dogecoin. He is known for promoting the latter; he stated that year that SpaceX would “put a literal Dogecoin on the literal moon.”
Other Crypto-Related Initiatives
The S-1 filing and available information reveal further connections to the blockchain community:
- Space-based blockchain infrastructure: In 2021, SpaceX deployed Bitcoin and Ethereum nodes into orbit for Singaporean SpaceChain via a Falcon 9 rocket. SpaceX's role was limited to providing launch services.
- Space-based Bitcoin mining: Musk has indicated that the company is exploring the possibility of Bitcoin mining in space, where the vacuum can be used for cooling and solar energy can provide continuous power. The high costs of transporting equipment to orbit — an estimated $2,720 per kilogram via Falcon 9 — are currently a significant obstacle.
- Tokenized SpaceX shares: Third-party platforms like Republic and Tessera have launched blockchain-based fractional shares in SpaceX for private investors. These are not officially affiliated with the company.
Risks and Disclaimers
Investors should note that the paper gains on Bitcoin holdings are unrealized, and crypto prices are volatile. The market regime is currently classified as “risk-off,” with a Fear & Greed Index at 29 out of 100. This means that market sentiment is characterized by caution, which could potentially affect the reception of a high-profile IPO in this segment.
SpaceX has not commented on the timing of the actual listing beyond what is stated in the filing documents. More information is expected in the coming weeks as the SEC process progresses.