
SpaceX $75B IPO brings Bitcoin onchain
SpaceX has priced its initial public offering at $135 per share, raising $75 billion in the largest IPO on record and valuing the company at approximately $1.8 trillion.
The Elon Musk-led company sold 555.6 million shares and is expected to begin trading on the Nasdaq under the ticker SPCX, giving public investors their first opportunity to own the stock.
The listing also brings SpaceX's sizeable Bitcoin holdings into public markets, with the company holding 18,712 BTC worth about $1.2 billion based on current prices.
SpaceX generated roughly $19 billion in revenue last year from launch services, government contracts and its rapidly expanding Starlink satellite internet business.
Investors have also focused on the company's cryptocurrency exposure amid reports that Musk has explored combining SpaceX with Tesla, which itself holds more than 11,500 Bitcoin on its balance sheet.
At the same time as the Nasdaq debut, tokenised versions of SpaceX shares are expected to begin trading through Solana-based infrastructure operated by Backpack.
The launch is expected to test investor demand for both mega-cap technology offerings and the growing convergence between traditional financial markets and blockchain-based trading platforms.
At the time of reporting, Bitcoin price was $63,616.32.