SpaceX Holds $1.29B Bitcoin Reserve as ETF Inflows Boost Crypto Sentiment
SPCX•SpaceX held 18,712 Bitcoin worth approximately $1.29 billion at the end of Q1 as a strategic treasury reserve. This disclosure arrives alongside U.S. spot Bitcoin ETF inflows of $85.9 million and a rebound of Bitcoin above $64,000, which may reduce selling pressure and support SpaceX share demand.
1. Bitcoin Recovery and ETF Inflows
Bitcoin climbed above $64,000 after rising more than 1% in 24 hours, marking an 8% recovery from early-June lows near $59,000. U.S. spot Bitcoin ETFs recorded net inflows of $85.9 million on Friday, the strongest daily intake since mid-May, signaling a potential return of institutional demand.
2. SpaceX’s Bitcoin Treasury Reserve
In its IPO filing, SpaceX revealed it held 18,712 Bitcoin at quarter-end, valued at roughly $1.29 billion. The company treats Bitcoin as a strategic treasury reserve alongside corporate cash rather than as a primary revenue source.
3. Potential Impact on SpaceX Stock
The sizable Bitcoin position and stabilizing ETF flows could lessen prior selling pressure from investors raising cash for SpaceX’s IPO. Market participants will watch how management navigates this cryptocurrency holding through upcoming earnings cycles and broader risk sentiment shifts.
