According to Grayscale Research, SpaceX could emerge as the largest publicly traded diversified company holding Bitcoin if its planned public listing proceeds in early June. Zach Pandl, head of research at Grayscale, revealed that the company currently holds 18,712 Bitcoin worth approximately $1.4 billion, based on the company's latest S-1 filing. These holdings would position SpaceX as the eighth-largest known corporate Bitcoin holder globally, as reported by Grayscale Research.
Despite the substantial Bitcoin holdings, SpaceX's Bitcoin would represent only about 0.1% of its projected $1.75 trillion valuation, according to Grayscale Research. Pandl noted that prediction market estimates around SpaceX's possible post-IPO valuation could make the company the top publicly traded diversified business holding Bitcoin. The report separates corporate Bitcoin buyers into two main categories: Digital Asset Treasuries like Strategy that primarily provide equity investors with Bitcoin exposure, and diversified companies such as Tesla, Coinbase, and Block where Bitcoin forms part of a broader treasury strategy.
As reported by Grayscale Research, Strategy remains the largest corporate Bitcoin holder with approximately 850,000 Bitcoin valued near $65 billion. Pandl explained that diversified companies typically keep Bitcoin as a limited part of company value, unlike dedicated treasury firms. Tesla, another Musk-led company, holds more than 11,500 BTC, while SpaceX would still be ahead of other public companies with much larger Bitcoin positions if its IPO proceeds as planned.
According to Stocktwits, retail sentiment around SPCX remained in the 'extremely bullish' zone, while message activity also stayed at 'extremely high' levels over the past day as investors watched SpaceX's expected June public market debut. As reported by crypto.news, Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are serving as active bookrunners for the deal, with international banks including Royal Bank of Canada, Mizuho Financial Group, and Macquarie Group also involved in share distribution across their markets.
