Bitcoin holdings market value dropped to approximately $545 million before SpaceX's IPO, and may face subsequent disclosure pressures regarding unrealized gains and losses

Odaily Planet Daily reports that on-chain data platform Arkham Intelligence shows that SpaceX currently holds approximately 8,285 Bitcoin in its Coinbase Prime custodial account. Based on the latest prices, this is worth about $545 million, down from an estimated $780 million three months ago, a decrease of approximately $235 million. The company has not reduced its holdings during this period. SpaceX plans to submit a confidential IPO application to the U.S. Securities and Exchange Commission (SEC) as early as March, aiming to go public in June with a valuation potentially exceeding $1.75 trillion and a fundraising cap of up to $50 billion. If successful, this would break the 2019 Saudi Aramco IPO record of $29 billion. Data shows that since early 2026, the company’s Bitcoin holdings have remained around 8,300 BTC, but the book value has fluctuated significantly due to BTC price corrections. At the end of 2021, its Bitcoin holdings peaked near $2 billion, then declined during the 2022 bear market, fluctuating between $400 million and $800 million over the past two years.

Market analysts note that once the S-1 filing is submitted, SpaceX will need to disclose its crypto asset exposure, and future financial reports may reflect the unrealized gains or losses caused by Bitcoin price volatility. Previously, Tesla’s similar accounting fluctuations have attracted market attention multiple times. However, on-chain data does not show SpaceX engaging in active trading; unlike Tesla, which has bought and sold Bitcoin, SpaceX appears to prefer a long-term holding strategy. (CoinDesk)