SpaceX Still Holds $594M in BTC Despite $5B 2025 Loss

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SpaceX still holds roughly $594 million in Bitcoin even after posting a loss of nearly $5 billion in 2025, according to on-chain data and a Reuters report citing The Information. The unchanged BTC position signals that Elon Musk’s space company is treating its crypto treasury as a long-term hold rather than a liquidity source.

SpaceX lost $5B in 2025 but kept all its Bitcoin

Reuters reported on April 9, 2026 that SpaceX posted a loss of nearly $5 billion on revenue of more than $18.5 billion for 2025. The loss figure includes xAI, which SpaceX acquired in February 2026.

Reuters noted it could not independently verify The Information’s report and that SpaceX did not respond to a request for comment. Despite the scale of the reported loss, on-chain evidence shows the company has not liquidated its Bitcoin reserves.

Arkham Intelligence data from March 31, 2026 listed SpaceX as the second-largest private-company BTC holder with approximately 8,300 BTC, behind only Tether’s 96,300 BTC. A separate CoinDesk summary from March 1 placed the holding at 8,285 BTC spread across 43 Coinbase Prime addresses, valued at about $544.8 million at that time.

At Bitcoin’s current spot price of $71,742, those 8,285 BTC would be worth approximately $594 million, a rebound from the March valuation. BTC traded down roughly 1.4% over the past 24 hours at press time.

Why a $594M corporate BTC hold matters in a fear-driven market

The Fear and Greed Index sat at 16 on April 12, deep in “Extreme Fear” territory. In that environment, large corporate holders choosing not to sell carries weight for sentiment, similar to how high-profile crypto token collapses have amplified bearish narratives in recent months.

SpaceX’s BTC position is small relative to its reported revenue but large enough to rank among the top private-company holdings globally. Traders track corporate treasury decisions because net selling from known wallets can accelerate downside moves, while steady holding removes potential supply from the market.

The fact that SpaceX appears to have held through both a $5 billion annual loss and a period of extreme market fear suggests the company views Bitcoin as a balance-sheet asset rather than working capital. That distinction matters for broader institutional adoption narratives around Bitcoin.

What to watch after this SpaceX BTC update

Reuters reported that SpaceX confidentially filed for a U.S. listing in March 2026. If the company moves forward with an IPO, an eventual S-1 filing would likely force public disclosure of its Bitcoin exposure, giving markets a verified snapshot of the treasury for the first time.

Until then, Arkham Intelligence’s on-chain tracking of SpaceX’s 43 Coinbase Prime addresses remains the primary visibility tool. Any movement from those wallets, whether consolidation, transfer to exchange hot wallets, or new accumulation, would signal a change in strategy that crypto market participants watching institutional flows would price in quickly.

The key takeaway for Bitcoin watchers is that continued holding can be as meaningful as new buying. In a market reading 16 on the Fear and Greed Index, a $594 million corporate position staying put removes one source of potential sell pressure at a time when sentiment is already fragile.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.

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