Elon Musk’s SpaceX Has More Bitcoin Than Estimated, SEC Filing Shows

Summary

Ed Ludlow breaks down SpaceX's SEC filing showing it holds over 18,700 Bitcoin, more than double previous estimates. He explains the Bitcoin is held as a treasury reserve asset, similar to cash or bonds, and that SpaceX has not sold any since late 2024. The discussion touches on Elon Musk's shifting views on Bitcoin and the implications for the upcoming SpaceX IPO.

• SpaceX holds 18,712 Bitcoin according to a new SEC filing.
• Average purchase price is about $35,000 per Bitcoin.
• Current value of holdings is approximately $1.3 billion.
• Bitcoin is treated as a treasury reserve asset, not for active trading.
• SpaceX has not sold any Bitcoin since the end of 2024.
• The filing is part of SpaceX's S-1 ahead of its IPO.
• Elon Musk's personal stance on Bitcoin remains unclear from the document.