Key Points
- SpaceX seeks to raise $75 billion through an initial public offering with shares priced at $135, potentially reaching a $1.77 trillion valuation
- The company’s Bitcoin position of 18,712 BTC, currently valued at approximately $1.29 billion, would become accessible to public market investors
- Following the offering, Elon Musk plans to maintain 82.4% voting authority while holding roughly half of all shares
- If successful, this offering would eclipse Saudi Aramco’s $29.4 billion IPO from 2019 as the largest ever recorded
- Market experts caution that multiple concurrent mega-IPOs may temporarily divert investment capital from cryptocurrency assets
Elon Musk’s aerospace manufacturer has submitted documentation to the U.S. Securities and Exchange Commission outlining plans for a $75 billion capital raise via initial public offering. The filing indicates shares will be priced at $135 apiece, with the company offering 555.6 million shares to the market. This pricing structure would establish a company valuation near $1.77 trillion.
BREAKING: BLOOMBERG JUST REPORTED SPACEX IS TARGETING A $135 IPO PRICE, $1,750,000,000,000 VALUATION, AND THE LARGEST IPO IN US HISTORY
THEY’RE GOING PUBLIC WITH OVER 18,000 #BITCOIN ON ITS BALANCE SHEET
NEXT MASSIVE PUBLIC BTC COMPANY IS HERE 🚀 pic.twitter.com/5LvmJLzvVR
— The Bitcoin Historian (@pete_rizzo_) June 4, 2026
Should the offering reach this magnitude, it would claim the title of history’s largest public debut, overtaking the previous record holder—Saudi Aramco’s 2019 market entry that generated $29.4 billion. According to the filing, SpaceX anticipates its shares will commence trading the following Friday, contingent upon securing regulatory clearance and favorable market dynamics.
Founded by Musk in 2002, the aerospace venture has evolved significantly beyond its original rocket manufacturing focus. The introduction of Starlink, its satellite-based internet platform, transformed into a substantial revenue generator following its commercial expansion after 2021.
Voting Power Remains Concentrated Despite Public Listing
Currently, Musk maintains ownership of approximately half of the company’s equity. Post-IPO, his ownership percentage will remain near that level, though his shares carry superior voting privileges compared to standard shares.
Documentation reveals that Musk will retain command of 82.4% of voting authority within SpaceX once the offering concludes. This governance arrangement ensures he maintains ultimate decision-making power regarding strategic matters, regardless of new shareholder participation.
Based on the $135 share price proposal, Musk’s SpaceX ownership would carry an estimated value near $841 billion. When combined with his Tesla equity position—worth approximately $300 billion based on Wednesday’s market close—his aggregate net worth could reach $1.1 trillion.
Corporate Bitcoin Position Enters Public Domain
As of March 31, SpaceX maintained a treasury position of 18,712 bitcoin, with a market valuation around $1.29 billion. The transition to public company status would create a pathway for retail investors to gain indirect Bitcoin exposure through equity ownership.
This cryptocurrency reserve has garnered significant interest amid speculation that Musk has considered consolidating SpaceX with Tesla. Tesla’s balance sheet already includes more than 11,500 bitcoin.
A theoretical merger between these entities would establish one of the most substantial publicly-traded corporate Bitcoin reserves. Neither organization has formally disclosed merger discussions.
Concurrent IPO Activity May Influence Digital Asset Valuations
The planned June market debut from SpaceX forms part of an extensive fundraising period. Leading artificial intelligence firms Anthropic and OpenAI are similarly preparing for public listings, with aggregate capital raised from these offerings projected to surpass $240 billion before year’s end.
Given that bitcoin and alternative digital currencies frequently compete for identical investor capital as rapidly-growing technology equities, this substantial influx of new stock offerings could channel funds away from cryptocurrency markets.
Industry analysts emphasize this scenario doesn’t guarantee crypto asset depreciation, though the magnitude of alternative investment opportunities represents a significant consideration for market participants.
According to company statements, SpaceX will allocate IPO proceeds toward rocket development, Starlink infrastructure expansion, artificial intelligence initiatives, and orbital data center construction. The filing acknowledges potential additional capital raises may become necessary given the substantial operational expenditures inherent to its business model.
This past February, SpaceX completed a merger with xAI, Musk’s artificial intelligence venture associated with the X platform, formally integrating AI capabilities into its extended operational roadmap.
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