What happens to SpaceX's $650 million bitcoin after mega deal with Elon Musk's xAI

Elon Musk's merger of SpaceX with the AI firm xAI creates a major technology entity whose existing Bitcoin holdings, estimated at about 8,300 BTC (worth roughly $650 million), are now under increased scrutiny as the combined company approaches a potential Initial Public Offering (IPO).

Unlike publicly traded Tesla, which must account for Bitcoin using fair-value rules leading to significant paper losses during market drawdowns, SpaceX has remained private, shielding its position. However, preparing for an IPO will necessitate public disclosure and adherence to accounting standards, similar to Tesla's experience.

The consolidation of crypto exposure across Musk's entities—SpaceX, xAI, and Tesla—raises questions about asset management and disclosure across his empire, although SpaceX has historically shown stability by not trading its BTC, which could appeal to long-term investors.

(Source：CoinDesk)