SpaceX targets $75 billion IPO at $135 a share; holds 18,712 bitcoin valued at $1.29 billion

SpaceX said in a filing with the U.S. Securities and Exchange Commission that it plans to price its initial public offering at $135 per share, a transaction that would raise $75 billion and value the company at $1.75 trillion. The aerospace group intends to sell 555.6 million shares. At the proposed scale, the deal would rank among the largest IPOs on record and represent a major milestone for Elon Musk's privately held rocket and satellite business. The listing could also ripple into crypto markets. SpaceX reported holding 18,712 bitcoin with a fair value of $1.29 billion as of March 31, placing it among the larger known corporate holders. Going public would bring those holdings into public markets, offering investors indirect bitcoin exposure through SpaceX shares. Attention on the company's bitcoin position has increased amid reports that Musk has explored combining SpaceX with electric-vehicle maker Tesla (TSLA). Tesla holds more than 11,500 BTC, one of the largest corporate bitcoin treasuries among publicly traded companies. A merger, if it were to occur, could concentrate control of one of the largest corporate bitcoin positions in public markets. Neither company has announced a formal merger plan. The IPO may also gauge whether crypto can keep drawing capital in a crowded risk-asset landscape. SpaceX's planned June listing, alongside expected fundraising by AI firms OpenAI and Anthropic, is projected to pull in more than $240 billion by year-end, potentially diverting liquidity from technology stocks, AI investments and digital assets as retail and institutional investors rebalance. Because bitcoin and other digital assets often compete for the same risk-on dollars as high-growth equities, strong demand for shares of SpaceX and other high-profile issuers could pressure crypto prices in the near term.