The Bitcoin holdings of Elon Musk‘s rocket and satellite maker, SpaceX, are in the spotlight as the company eyes a potential $2 trillion IPO.
According to recent reports, SpaceX is aiming to list its shares as early as June 12 and has chosen Nasdaq as the trading venue for its blockbuster market debut, according to people familiar with the matter.
SpaceX is likely to target a raise of about $75 billion at a valuation of about $1.75 trillion, which would make it the biggest stock market flotation of all time.
The listing, one of the most anticipated in years, is expected to headline an IPO calendar that could also include AI heavyweights Anthropic and OpenAI, both of which are expected to tap public markets.
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Arkham highlighted this fact in a recent tweet. The IPO is projected to make SpaceX the 6th largest public company in the world.
$637 million of Bitcoin held by SpaceX
According to Arkham, SpaceX holds $637 million worth of Bitcoin. It backs this fact with a screenshot of its data showing SpaceX’s Bitcoin holdings currently above $637 million.
This massive Bitcoin stash puts SpaceX among the top corporate Bitcoin holders. Based on on-chain data, SpaceX ranks among the two biggest BTC-holding private companies, a list that also includes Tether.
On the other hand, Strategy (formerly MicroStrategy), led by Michael Saylor, holds more Bitcoin than any other public company. The company has been accumulating Bitcoin since August 2020 and now holds 843,738 BTC. This makes Strategy the largest publicly traded corporate holder of Bitcoin globally, even surpassing major ETF issuers like BlackRock.
Coinbase takes the top spot for exchange BTC holders. This list also includes Binance, Robinhood and Upbit.
Bitcoin succumbed to selling pressure after dropping for three straight days. Bitcoin was down 1.02% in the last 24 hours at $77,462 at the time of writing.
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