SpaceX has retained 8,285 Bitcoin (valued at $603 million) in Coinbase Prime custody despite parent company Tesla reporting a $5 billion loss attributed to Musk’s xAI ventures, according to blockchain analytics firm Arkham. The holdings remained stable during Tesla’s swing from $8 billion profit to nearly $5 billion loss ahead of its anticipated IPO.
Analysts note this marks the first confirmed crypto exposure disclosure since SpaceX’s 2023 satellite bitcoin payments experiment. ‘Most assumed they’d liquidated during the 2024 bear market,’ said Chainalysis lead economist Madeline Fassler via email. The Bitcoin stash represents 12% of SpaceX’s $5.1 billion cash reserves reported in Q1 2026 SEC filings.
Market observers suggest the holdings may serve as a hedge against dollar inflation, with Morgan Stanley’s crypto team estimating 43% of S&P 500 companies now hold digital assets. However, SEC Chair Gary Gensler warned reporters yesterday about ‘material discrepancies in crypto accounting’ at tech firms.
The revelation comes as xAI faces scrutiny over its $18 billion valuation. Short-seller Jim Chanos tweeted: ‘When your AI division loses more than your core business makes, that’s not innovation – it’s arson.’ SpaceX declined to comment on whether the Bitcoin position relates to Mars colonization payment systems under development.