SpaceX Files ₱4.52 trillion ($75 billion) IPO with 8,285 Bitcoin Holdings
SpaceX filed confidential IPO paperwork with the SEC targeting a ₱105.45 trillion ($1.75 trillion) valuation. The aerospace company holds 8,285 Bitcoin on its balance sheet worth ₱34.04 billion ($565 million), moved to a new wallet address in October.
Key Takeaway
SpaceX's $75 billion IPO would be the largest ever, bundling rockets, satellites, and AI with Bitcoin holdings.
Elon Musk's SpaceX filed confidential IPO documents with the SEC, seeking a ₱105.45 trillion ($1.75 trillion) valuation that would make it the largest public offering in history. Bloomberg reported the filing on Wednesday, citing sources familiar with the matter.
The company aims to raise $75 billion, which would dwarf Saudi Aramco's $29 billion IPO in 2019. SpaceX holds 8,285 Bitcoin on its balance sheet, with the holdings moved to a new wallet address in October. Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Citigroup will lead the underwriting. The IPO could be finalized by June, according to Bloomberg's sources. SpaceX is considering a dual-class share structure that would give insiders, including Musk, greater voting control while allocating 30% of shares for individual investors.
The filing comes after SpaceX completed its acquisition of AI startup xAI in early February through an all-stock deal. OpenAI closed a funding round on Tuesday at an $852 billion valuation with $122 billion in committed capital, underscoring investor appetite for AI companies.
Robinhood CEO Vladimir Tenev said in February that blockchain tokenization could help broaden participation in private tech firms. Both Robinhood and Kraken are seeking to offer tokenized shares. Executive briefings are scheduled for this month as SpaceX prepares for what would be the first mega-IPO to include both aerospace and AI assets under one ticker.
This article was written based on reporting from Cointelegraph.
