SpaceX, founded by Elon Musk, has 8,285 Bitcoins worth approximately $603 million on its balance sheet. These assets are stored on the company’s Coinbase Prime platform. According to financial reports for 2025, the company reported losses of approximately $5 billion.
SpaceX’s Bitcoin attitude and financial statements
The company, which made a profit of approximately 8 billion dollars last year, increased its revenue from 15-16 billion dollars to 18.5 billion dollars in 2025. However, with the acquisition of xAI in February, there was a significant increase in costs. After the integration of artificial intelligence, expenses exceeded revenues, causing a serious loss to the company.
Bitcoin assets, on the other hand, did not undergo any change despite the company’s financial difficulties. According to the transfer history provided by CoinDesk, only a total internal balancing of 1,635 BTC was carried out between SpaceX’s wallets in the last four months. While the company’s Bitcoin balance appeared stable as of mid-2024, the value of this asset had exceeded $1.6 billion at its peak in October 2025.
Analysis conducted in the intervening months reveals that SpaceX did not convert its crypto assets into cash but kept them in its portfolio. It is noteworthy that the company did not make a different choice instead of such a volatile asset, especially when there was a large loss on its balance sheet. This position taken by the company led to comments about how Bitcoin is considered as a treasury asset.
IPO process and Bitcoin’s balance sheet impact
SpaceX is the fourth largest known institutional Bitcoin investor. The top three on the list are the Strategy company managed by Michael Saylor, Marathon Digital and Riot Platforms. This amount of assets also reveals the size of SpaceX, which is preparing for the public offering phase.
With the application made last month, Bitcoin assets are expected to be disclosed to the public for the first time in SpaceX’s public offering file. This may require Bitcoin to be shown at fair value on the balance sheet, under new Financial Accounting Standards Board (FASB) rules.
As the company transitions to a publicly traded structure, it will be subject to new standards for accounting for digital assets. For this reason, the amount and value of Bitcoin held by SpaceX has a special importance for investors and markets.
It is not yet clear how Bitcoin investments will affect the company’s future strategies. However, the fact that SpaceX both suffers financial losses and continues to hold its assets provides important clues about the company’s view of digital assets.
On the other hand, the fact that there is no decrease in the company’s assets and that it maintains this attitude is closely followed by market actors. With the spread of blockchain technology, it has become a matter of curiosity whether institutional investors will follow similar strategies.
SpaceX’s financial structure and Bitcoin portfolio may directly affect the company’s financial statements and IPO process in the coming period.
