SpaceX is preparing for a public stock offering that could value the company at approximately $1.5 trillion, positioning it for the largest public market debut by that measure, as reported by Bloomberg.
Should this take place, investors won’t be limited to rockets and satellites; they will also acquire a stake in a company that possesses thousands of bitcoins and has utilized dogecoin to finance a lunar mission.
A report from Bloomberg on Tuesday revealed that the firm led by Elon Musk is advancing plans for an initial public offering aiming to raise “considerably more than $30 billion” and is targeting a valuation close to $1.5 trillion, with a potential listing by mid-to-late 2026.
Given the scale, even minor balance-sheet allocations are significant.
Arkham Intelligence, a blockchain analytics firm that monitors recognized entities, indicates a wallet cluster tagged “SpaceX” containing about 3,991 BTC, worth roughly $369 million at a bitcoin price of approximately $92,500.
The addresses are noted as being held via Coinbase Prime custody, and the balance history suggests fluctuations over the years, with a sharp rise during the 2021–2022 bull market, followed by a decline and subsequent recovery through 2024 and 2025.
Recent insights from Arkham indicate significant internal movements on bitcoin’s base layer, with two transactions exceeding 1,000 BTC each occurring in the last week, along with smaller transfers between Coinbase Prime and cluster addresses.
It’s important to note that these transfers may represent internal movements rather than actual buys or sells.
Although the deal is still more than a year out and dependent on market dynamics, Musk’s connection to crypto significantly amplifies each development.
Musk’s impact on dogecoin is well established, from posting memes that influenced the market to SpaceX accepting the token for its DOGE-1 lunar venture.
His companies were early adopters of bitcoin as institutional investors, with electric vehicle manufacturer Tesla reporting over 11,000 BTC holdings on its balance sheet.
A SpaceX IPO could provide Musk with new capital for Starlink expansion and technology-heavy space data centers, potentially enhancing his influence in areas overlapping both AI and crypto infrastructure.
In the meantime, preliminary data from prediction market Polymarket indicates increasing confidence that SpaceX’s valuation at IPO could surpass $1 trillion, with traders estimating a 67% likelihood that the market cap will exceed this threshold as of early Wednesday.
