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SpaceX is holding onto 8,285 bitcoins valued at $603 million even as the company reported a nearly $5 billion loss for 2025, new data shows.
The aerospace firm keeps its digital currency in Coinbase Prime custody and has not sold any despite the financial hit, according to the data from Arkham Intelligence and The Information report published Friday. The loss is a complete turnaround from the previous year when SpaceX made about $8 billion in profit on sales between $15 billion and $16 billion.
The company’s bitcoin balance stayed steady since the middle of 2024 after hitting a peak value above $1.6 billion during October 2025 when bitcoin reached record highs. SpaceX now ranks as the fourth-biggest known corporate bitcoin owner, trailing only Strategy, Marathon Digital, and Riot Platforms.
SpaceX filed for an initial public offering last month that will require the company to reveal its bitcoin holdings in public documents for the first time. This could force the company to make accounting choices under new FASB rules that started in late 2025.
SkyBridge Capital founder Anthony Scaramucci said the mov e shows how companies will treat bitcoin going forward. “Everyone will soon have Bitcoin on their corporate balance sheet,” he said, calling SpaceX the ultimate example of keeping bitcoin as a company reserve asset.
One company drives corporate Bitcoin buying
Public and private companies added 47,435 bitcoins to their holdings in March, worth around $3.2 billion at month-end prices. But nearly all those purchases came from one buyer.
Michael Saylor’s Strategy bought 44,377 bitcoins in March alone, including 22,337 bitcoins on March 16 funded by $1.57 billion from selling STRC preferred shares and MSTR common stock. The company now controls two-thirds of all bitcoin held by public companies, with total holdings around 762,000 bitcoins.
Beyond Strategy, corporate interest in bitcoin appears to be cooling. Public companies bought aggressively last summer, but purchases have fallen and sales have picked up since October. Only 16 companies bought bitcoin in March.
Ryan Strauss from the Bitcoin Consulting Group said the numbers show “how structurally dependent headline holdings growth is on Strategy.” He added that removing Strategy from the totals reveals “clear deceleration” and “a broad cooling in corporate conviction.”
Kraken gets direct Fed access
Kraken received approval for a Federal Reserve master account as reported by Cryptopolitan previously, allowing the crypto exchange to hold balances at the Fed and settle U.S. dollar transactions on Fedwire without using traditional banks. The company’s co-CEO Arjun Sethi told Fortune that Kraken went through Wyoming to get a Special Purpose Depository Institution charter.
The Independent Community Bankers of America and 42 state banking associations opposed the decision. Representative Maxine Waters asked the Kansas City Fed to explain its legal authority for approving the account.
The approval comes as institutional money flows back into bitcoin. Spot bitcoin exchange-traded funds attracted $789 million last week, the highest weekly amount since February. Morgan Stanley launched its own bitcoin ETF on April 8, charging 0.14% and giving its 16,000 wealth advisors access to bitcoin for $6.2 trillion in client assets.
Charles Schwab, serving 39 million brokerage clients, published a framework showing aggressive portfolios could hold up to 8.8% in bitcoin.
Wall Street analysts have year-end 2026 price targets ranging from $100,000 to $250,000 for bitcoin. However, TD Cowen cut its Strategy price target by 20.5% to $350, and some traders predict bitcoin could drop below $50,000 by November 2026.
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