SpaceX is reportedly preparing for a public listing at a valuation exceeding $1.5 trillion, setting the stage for what could become the largest IPO in history and significantly boosting Elon Musk’s financial standing.
The company confirmed its intentions in a newly filed S-1 registration statement with the U.S. Securities and Exchange Commission, providing investors with the first detailed financial overview of one of the world’s most valuable private companies ahead of an IPO expected as early as next month.
The filing disclosed that SpaceX held 18,712 Bitcoin (BTC) as of March 31, valued at roughly $1.29 billion at the time. With Bitcoin trading near $77,000, that position would now be worth approximately $1.45 billion. The holdings place SpaceX among a small group of major corporations with significant Bitcoin exposure, alongside Tesla, which owns 11,509 BTC, and Strategy, which remains the largest corporate holder with 843,738 BTC.
SpaceX is reportedly aiming for a valuation above $1.5 trillion, with some projections suggesting it could reach $2 trillion. If achieved, the company would immediately rank among the world’s most valuable public firms, alongside Apple, Microsoft, and Nvidia. At the upper end, it could also surpass Saudi Aramco’s 2020 IPO, which raised $29.4 billion and valued the company at about $1.7 trillion.
Investor demand is expected to be strong, driven by SpaceX’s dominant position in commercial space launch services and the rapid expansion of its Starlink satellite internet network. The company has built a competitive edge through reusable rocket technology and a growing global satellite infrastructure footprint.
The S-1 filing also offers rare insight into SpaceX’s financial performance, including revenue growth, capital expenditures, risk disclosures, and ownership structure. Investors are closely watching governance details, particularly how much control Elon Musk will retain after the company goes public. The filing shows revenue rising to $18.7 billion in 2025, up from $14 billion in 2024.
SpaceX also highlighted artificial intelligence as part of its long-term strategy, framing it alongside its core businesses as part of a potential “trillion-dollar market opportunity.”
Musk, who already leads Tesla, xAI, and the social media platform X, is expected to continue as CEO, Chief Technical Officer, and Chairman following the listing, making SpaceX one of the most closely watched IPOs in years.
However, SpaceX is not the only major tech listing in the pipeline. OpenAI and Anthropic are also reportedly considering public offerings, increasing the possibility of multiple high-profile IPOs entering the market within a similar timeframe.
If that occurs, analysts suggest capital could rotate into these new equity offerings, potentially drawing liquidity away from risk assets such as cryptocurrencies as investors reposition into high-profile public market debuts.
