SpaceX IPO: $75B Raised, $1.8T Valuation, Bitcoin Holdings, and Solana Tokens

SpaceX has set a price of $135 per share, as revealed in a filing with the U.S. Securities and Exchange Commission on Thursday. This move is highly anticipated and sets the company up for a significant entry into the public stock market.

The company offered 555.6 million shares, generating $75 billion and breaking the record for the largest initial public offering in history. This surpassed Saudi Aramco’s $30 billion IPO from 2019 by a significant margin.

SpaceX, the aerospace and satellite company led by Elon Musk, is set to start trading on the Nasdaq stock exchange this Friday, with the stock symbol SPCX. This will be the first chance for the general public to invest in the company. At its initial price, SpaceX is valued at approximately $1.8 trillion.

At $19 billion in last year’s revenue, the valuation seems high. This revenue came from sources like launching rockets, government deals, and the fast-expanding Starlink satellite internet service.

SpaceX also owns a significant amount of bitcoin. As of March 31st, their holdings totaled 18,712 bitcoin, currently worth just under $1.2 billion, based on a price of around $63,500 per bitcoin.

If SpaceX were to become publicly traded, investors could gain indirect access to bitcoin by buying SpaceX stock. This is because SpaceX owns bitcoin, and interest in this has grown with talk of a potential merger between SpaceX and Tesla. Tesla already holds a significant amount of bitcoin – over 11,500 – making it one of the largest corporate holders of the cryptocurrency.

Just as SpaceX plans to start trading on the Nasdaq stock exchange, a digital version of its stock will also become available for trading on a platform built using Solana technology.

As an analyst, I understand this token, issued by Backpack, essentially functions as a digital ownership stake in actual SpaceX shares. Backpack users can redeem these tokens for the corresponding shares directly through their brokerage platform.

This launch is a major step towards making newly issued U.S. stocks available on blockchain technology right from the start of trading. Proponents believe this could open up investment opportunities and make it easier to trade these stocks worldwide. However, some are concerned about how it will be regulated, how the stocks will be safely held, and whether it could divide the market.

SpaceX’s first offering is predicted to reveal how much investors are interested in big tech companies, as well as the increasing connection between standard financial markets and those built on blockchain technology.