Grayscale said Elon Musk’s SpaceX could become the most valuable public company holding bitcoin after its expected June IPO. SpaceX holds 18,712 BTC, based on its SEC S-1 filing. Grayscale categorized corporate bitcoin holders into digital asset treasuries and diversified businesses. Digital asset treasuries primarily provide investors BTC exposure through public markets, with Strategy currently holding 843,738 BTC and ranking as the largest by BTC amount. Diversified businesses hold bitcoin alongside operating activities as part of broader treasury management, including Tesla with 11,509 BTC, ranked 12th among public-company holders. Grayscale also noted that increased investor visibility could follow the IPO and influence corporate bitcoin balance-sheet strategies.
"Grayscale said in a blog post on May 26 that Elon Musk’s SpaceX is poised to become the most valuable public company holding BTC, after its expected initial public offering (IPO) in June. Michael Saylor’s Strategy would likely remain the largest public-company bitcoin holder by BTC amount. SpaceX owns 18,712 BTC, based on its registration statement (S-1 filing) with the U.S. Securities and Exchange Commission (SEC)."
"Grayscale Head of Research Zach Pandl divided corporate bitcoin holders into two categories. Digital asset treasuries (DATs) primarily exist to provide investors with BTC exposure through public markets. Strategy is the largest DAT, currently holding 843,738 BTC. Diversified businesses, by contrast, hold bitcoin alongside operating businesses as part of broader treasury management. Musk's SpaceX and Tesla fall into that category, with Tesla ranking 12th among public-company holders at 11,509 BTC."
"Pandl wrote: SpaceX is expected to be the largest public company holding bitcoin. The distinction separates companies that primarily function as bitcoin investment vehicles from operating businesses that hold BTC alongside core commercial activities. Treasury-focused firms include Strategy with 843,738 BTC, Twenty One Capital with 43,514 BTC, and others."
Read at news.bitcoin.com
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