SpaceX Is Going Public With 18,712 BTC, While the U.S. Strategic BTC Reserve Is Inching Closer

Bitcoin's price corrected this week, but we saw some Bitcoin-positive headlines. The upcoming SpaceX IPO is set to introduce a major Bitcoin holder to the public equity markets, and a White House staffer announced that they’re finally going to establish a formal framework for a strategic Bitcoin reserve after a lengthy period of anticipation.

TL;DR

• Elon Musk’s SpaceX is planning to IPO in the coming weeks, and its latest filing shows the company could go public with 18,712 BTC on its balance sheet. 

• A White House staffer said the US Strategic Bitcoin Reserve should be coming soon.

SpaceX Is Planning on Going Public With 18,712 BTC on the Balance Sheet 🚀

There is a love-hate relationship between Elon Musk and Bitcoin. 

He’s currently the richest man on Earth and has endorsed Bitcoin in the past as the best form of money, backed by energy and physics. However, he also criticized it for its environmental footprint and suggested using the memecoin, Dogecoin, instead. 

But it seems like he’s still a Bitcoin HODLer in some form, because the SpaceX IPO filing was released this week, and there is a BTC surprise in it. 

The filing tied to Musk-linked entities disclosed 18,712 BTC on the balance sheet.

According to the filing, they are holding it with a custodian, but from what I’ve seen, the only digital asset they hold is Bitcoin (and not Dogecoin).

With that holding, SpaceX would be the seventh-largest public holder of Bitcoin.

According to Bitcoin Treasuries, Musk’s other big company, Tesla, holds 11,509 BTC on its balance sheet and was one of the motivating factors behind many other public companies adopting a BTC treasury strategy in 2020. 

There is no documentation or explanation of what SpaceX intends to do with its Bitcoin, but the mere fact that, in 2026, we have one of the most anticipated IPOs ahead of us, and that they use BTC as a reserve asset, shows how far Bitcoin has evolved as a treasury asset. 

White House Staffer Says a Strategic Bitcoin Reserve Is Imminent 💪

Speaking of Bitcoin as a reserve asset, we also have an update to the Strategic Bitcoin Reserve in the U.S. 

Over a year ago, the U.S. government announced that it would establish a strategic reserve. The question that remained was just when they would start acquiring BTC. 

While we don’t have a definitive answer to this, Patrick Witt, the Executive Director of the President’s Council of Advisors for Digital Assets, claims we will have an answer very soon.  

In a 30-minute interview with Scott Melker, Witt said they are close to making an announcement that will be “a breakthrough as far as getting everything in place, legally sound, properly safeguarding the assets.” 

Since the Executive Order's original signature in March 2025, Witt says his deputy, Harry John, has driven the interagency process, identifying which legal authorities exist, commissioning the necessary legal memos, and building a custody and reporting infrastructure across federal agencies designed for gold, not Bitcoin. 

He also mentioned that time is of the essence, as an Executive Order can die or be neglected the moment a new president takes office. So, he wants to move quickly. 

Towards the end of the interview, he said that everyone in Bitcoin will like the upcoming announcement. Once we get to hear it, I will obviously give you my two sats on the matter.

Elsewhere in Bitcoin 📖

A quick look at what else has been happening in Bitcoin: 

• Tether buys Softbank’s stake in Twenty One Capital

• Want to see what inflation looks really like? Here is the chart

• CME Group releases a video saying Bitcoin is a durable fixture

• The Pentagon is investigating how it can use Bitcoin going forward

• 13 out of 15 institutional shareholders of MSTR increased their exposure in Q1

Your fellow stacker in sats, 

Patrick Lowry

PS: If you want to see how the value of goods and services changes when priced in Bitcoin, check out the Samara Bitcoin CPI. It might give you a new perspective on holding Bitcoin on your company’s balance sheet or just as an individual.

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