SpaceX's Record $75B IPO Sends Musk's Fortune Past $1T, Reveals Major Bitcoin Treasury

SpaceX set its IPO price at $135 a share on June 12, 2026, raising about $75 billion in what became the largest initial public offering on record. The company began trading on Nasdaq under the ticker SPCX and ended its first session near $161. The surge lifted SpaceX's market value to an estimated $2.1 trillion to $2.2 trillion. The blockbuster listing also reshaped the wealth rankings. Based on estimates cited by Forbes and Bloomberg, Elon Musk's net worth rose to roughly $1.1 trillion in the wake of the offering, briefly making him the first individual to cross the $1 trillion threshold. SpaceX's S-1 filing included a detail that caught crypto markets' attention: the company reported holding 18,712 BTC in its treasury, valued at about $1.2 billion to $1.45 billion at the time of filing. That positions SpaceX as the 8th-largest public-company holder of Bitcoin. Together with Tesla's reported holdings of about 11,509 BTC, Musk's two public companies now control more than 30,000 Bitcoin. Crypto prices reacted quickly. Dogecoin rallied 67.6% on IPO day, while Bitcoin saw renewed buying as investors weighed the implications of another trillion-dollar company maintaining exposure to digital assets. The scale of the deal also raised questions about near-term liquidity across risk markets. A $75 billion capital raise can prompt participating institutions to rebalance portfolios, potentially trimming speculative positions to fund IPO allocations. Such shifts can create temporary pressure on smaller tokens and other higher-beta digital assets competing for the same risk capital. Post-IPO trading underscored the volatility. Shares reportedly traded above $200 at one point before retreating and stabilizing closer to the IPO price in late June and early July 2026. Musk's trillionaire status also appeared sensitive to the stock's swings. The same volatility that powered the early spike reportedly pulled his estimated net worth back below $1 trillion at times. As a newly public company, SpaceX now enters a cycle of quarterly reporting, analyst scrutiny, and regulatory oversight that will put its crypto positions under regular review. Any move to buy, sell, or write down its Bitcoin holdings could have market impact. Dogecoin's pop, market participants noted, looked largely association-driven rather than rooted in changes to the memecoin's fundamentals, utility, or adoption.