Grayscale said Elon Musk’s SpaceX could become the most valuable publicly traded company holding Bitcoin after its expected IPO, while Strategy is likely to remain the largest holder. $BTC amount. There are 18,712 S-1 applications on the list. $BTC It’s under Digital Assets.
Important points:
- Grayscale said Elon Musk’s SpaceX could become the most valuable publicly traded company holding Bitcoin.
- Diversified businesses may increase $BTC The current rankings are dominated by companies focused on the Treasury, and their investment allocations are increasing.
- SpaceX’s IPO could expand investor awareness of the company’s Bitcoin balance sheet strategy.
SpaceX’s IPO could reshape corporate Bitcoin rankings
Crypto asset management firm Grayscale Investments said in a May 26 blog post that Elon Musk’s SpaceX is poised to become the most valuable public company holding. $BTCAfter an initial public offering (IPO) scheduled for June. Michael Saylor’s strategy is likely to continue as the largest publicly traded Bitcoin holder. $BTC amount. SpaceX owns 18,712 $BTCpursuant to a registration statement (S-1 filing) with the U.S. Securities and Exchange Commission (SEC).
Zach Pandle, head of research at Grayscale, divided corporate Bitcoin holders into two categories. Digital Asset Treasury (DAT) exists primarily to serve investors. $BTC Exposure through the public markets. Strategy is the largest DAT and currently holds 843,738 $BTC. In contrast, diversified companies hold Bitcoin alongside their business operations as part of broader financial management. Musk’s SpaceX and Tesla fall into that category, with Tesla ranking 12th out of 11,509 company stockholders. $BTC. Pandor writes:
“SpaceX is expected to become the largest public company holding Bitcoin.”
This distinction distinguishes between companies that primarily serve as investment vehicles for Bitcoin and companies that operate businesses that hold Bitcoin. $BTC In parallel with core commercial activities. Companies with emphasis on finance include Strategy, Inc. with 843,738. $BTCTwenty One Capital of 43,514 $BTCMetaplanet Co., Ltd., 40,177 $BTCMARA Holdings Inc. 35,303 $BTC30,021 Bitcoin Standard Finance Companies $BTCbullish at 24,300 $BTC. SpaceX works more closely with diversified operating companies like Tesla, which has 11,509 companies. $BTCblocked at 9,032 $BTCCoinbase holds 16,492 $BTC As part of broader crypto business operations.
Public Bitcoin Treasury Market Faces New Benchmark from SpaceX
SpaceX’s S-1 filing lists Bitcoin as a “digital asset,” indicating that its holdings have remained unchanged year-over-year. The company held 18,712 $BTC. Fair value decreased from $1.749 billion to $1.637 billion, while cost basis remained at $661 million. SpaceX also stated that “SpaceX has ownership and control of the digital assets consisting of Bitcoin and has used and will continue to use third-party custodians to hold Bitcoin.”
Ahead of its expected IPO, market forecast data from Polymarket says SpaceX will most likely debut at a valuation between $2 trillion and $2.5 trillion. The odds for this range are about 40%, higher than the 26% odds for the $1.5 trillion to $2 trillion range and 24% for the $2.5 trillion to $3 trillion range. These estimates support Grayscale’s view that SpaceX has the potential to become the most valuable publicly traded company. $BTC After IPO.
Corporate Bitcoin financial strategies could attract more investor attention as more operating businesses go public $BTC Earn your holder’s ranking alongside specialist finance companies. Grayscale’s head of research added:
“we, $BTC Even if the number of DATs is decreasing, it will increase over time. Altogether, these dynamics $BTC— and confirms the value of $BTC over time. “
