SpaceX plans to price its IPO at $135 per share in a deal that would raise a record $75 billion and value the company at $1.75 trillion, the company said in a filing with the U.S. Securities and Exchange Commission.
The aerospace company plans to sell 555.6 million shares in the offering, according to the filing. If completed at the proposed size, the IPO would rank among the largest public listings ever and mark a major milestone for Elon Musk’s private rocket and satellite business.
The offering would also have implications for the crypto market.
SpaceX held 18,712 bitcoins with a fair value of $1.29 billion as of March 31, making it one of the largest known corporate holders of the cryptocurrency. A public listing would bring these holdings to the public markets, giving investors indirect exposure to bitcoin through ownership of SpaceX shares.
The company’s Bitcoin position has drawn increased attention amid reports that Musk explored combining SpaceX and electric vehicle maker Tesla (TSLA). Tesla already has one of the largest corporate Bitcoin treasuries among publicly traded companies, with over 11,500 BTC.
If Tesla and SpaceX ultimately merge, Musk could take control of one of the largest corporate Bitcoin holdings on the public markets. However, neither company has announced any formal merger plans.
The IPO could also test whether crypto can continue to attract capital in a market crowded with risky assets. SpaceX’s planned listing in June, combined with planned fundraising from AI companies OpenAI and Anthropic, is expected to attract more than $240 billion by the end of the year, potentially siphoning cash from tech stocks, AI investments and digital assets as retail and institutional investors reallocate their capital.
Since bitcoin and other digital assets often compete for the same risky investments as high-growth companies, an increase in demand for shares of SpaceX and other high-profile issuers could weigh on cryptocurrency prices in the near term.
