SpaceX continued to hold 8,285 bitcoin (BTC) even after recording losses of about $5 billion in 2025, it has emerged.

According to blockchain media outlet Cryptopolitan on April 13 (local time), SpaceX's bitcoin holdings are estimated to be worth $603 million, and the company did not sell them while keeping them in a Coinbase Prime custody account.

The figures were confirmed based on data released by Arkham Intelligence and The Information. SpaceX has maintained its bitcoin balance since mid-2024. When bitcoin hit an all-time high (ATH) in October 2025, the holdings were worth more than $1.6 billion. SpaceX now ranks fourth by known corporate bitcoin holdings, after Strategy, Marathon Digital and Riot Platforms.

In the market, SpaceX's move is being linked to changes in corporate financial strategy. In particular, SkyBridge CEO Anthony Scaramucci (앤서니 스카라무치) drew attention by saying, "Soon every company will put bitcoin on its balance sheet." He pointed to SpaceX as a leading example of maintaining bitcoin as a corporate treasury reserve asset.

SpaceX filed for an initial public offering (IPO) last month. That raises the likelihood the company will have to disclose its bitcoin holdings for the first time through listing-related disclosure documents. In that process, accounting treatment could also come to light under new U.S. Financial Accounting Standards Board (FASB) rules that took effect from the end of 2025.

Still, the broader corporate trend of buying bitcoin appears concentrated among a few large buyers. Public and private companies added a total of 47,435 BTC in March, with an end-of-month value of $3.2 billion. Most of that was bought by Michael Saylor's Strategy. Strategy bought 44,377 BTC in March alone, and in mid-March it secured an additional 22,337 BTC based on $1.57 billion raised from sales of preferred and common stock.

Strategy currently holds about 780,897 BTC. That is about two-thirds of total bitcoin holdings among public companies. By contrast, only 16 companies actually bought bitcoin in March. Compared with aggressive buying that continued through last summer, data show buying has weakened since October and selling has increased.

Signals of institutional inflows also continued. Kraken gained approval for a Federal Reserve "skinny account" and can hold balances at the Fed without going through traditional banks, enabling it to settle dollars directly on Fedwire. Co-CEO Arjun Sethi said it went through the process via a Wyoming special purpose depository institution (SPDI) licence. The Independent Community Bankers of America and 42 state banking associations opposed the move, and U.S. Representative Maxine Waters demanded the Federal Reserve Bank of Kansas City explain the legal basis for the approval.

Spot bitcoin exchange-traded funds (ETFs) also saw inflows of $789 million last week, the biggest weekly inflow since February. Morgan Stanley launched its own spot bitcoin ETF on April 8 with a fee set at 0.14 percent, allowing 16,000 wealth-management advisers to provide bitcoin access for $6.2 trillion in client assets. Charles Schwab also presented an asset-allocation framework allowing up to 8.8 percent bitcoin in aggressive portfolios for its 39 million brokerage clients.

Price outlooks are mixed. Wall Street analysts are presenting end-2026 bitcoin targets ranging from $100,000 to $250,000. TD Cowen, however, cut its target price for Strategy by 20.5 percent to $350, and some traders also see a chance bitcoin could slide below $50,000 before November 2026.

As SpaceX's decision to maintain its bitcoin holdings is read as a signal of a long-term corporate financial strategy, it remains to be seen whether actual corporate demand will spread to companies other than Strategy.