SpaceX just pulled off the biggest IPO in history. The company priced shares at $135 each on June 11, raising $75 billion from roughly 555.6 million Class A shares sold to investors. With underwriters holding a greenshoe option to sell an additional 83.3 million shares, total proceeds could push past $86 billion.

That’s not just a record. It’s a record by a wide margin, eclipsing Saudi Aramco’s 2019 debut, which previously sat atop the all-time IPO leaderboard.

But buried in the SEC filing was a detail that sent a different kind of ripple through markets: SpaceX disclosed it holds 18,712 bitcoins, valued at approximately $1.29 billion as of March 31, 2026. The company paid roughly $661 million to acquire them, meaning it’s sitting on a nearly 100% unrealized gain on that position alone.

First day on Nasdaq was a blowout

Trading under the ticker SPCX on Nasdaq, SpaceX shares opened at $150, already an 11% premium to the IPO price. By the closing bell, shares had climbed to $160.95, a 19% gain on the day.

That first-day pop briefly pushed the company’s market capitalization beyond $2 trillion.

Goldman Sachs and Morgan Stanley led the underwriting.

Among the most aggressive buyers on day one was ARK Invest, Cathie Wood’s firm known for its high-conviction technology bets. ARK scooped up nearly 3.3 million shares on IPO day, a position worth over $500 million at closing prices.

The Bitcoin angle matters more than you think

The 18,712 BTC stash cost SpaceX approximately $661 million to accumulate. At the $1.29 billion valuation disclosed in the filing, that’s roughly a 95% return on investment.

The disclosure also reframes SpaceX’s valuation story. Investors buying SPCX aren’t just getting exposure to rocket launches, Starlink satellite internet, and eventual Mars colonization ambitions. They’re also getting indirect Bitcoin exposure.

The risk, of course, is concentration. SpaceX’s $1.29 billion in Bitcoin represents a relatively small fraction of its overall valuation, but any sharp decline in BTC prices would show up directly on the balance sheet.

Musk becomes the world’s first trillionaire

The IPO’s valuation surge produced another headline: Elon Musk is now the world’s first trillionaire on paper. His combined holdings across SpaceX, Tesla, and other ventures crossed the thirteen-digit threshold following the first day of trading.