SpaceX stock hits an all-time low below IPO price, what it means for its 18,712 BTC

Elon Musk's SpaceX went nationalist connected June 12 astatine $135 a share. It concisely touched $225.64 connected June 16, a 40% surge successful 4 days that made it 1 of the astir explosive IPO debuts successful history.

But by July 15, shares deed an all-time debased of $132.75, dipping beneath the IPO terms of $135 for the archetypal time. The full post-debut rally, gone successful little than 5 weeks.

SPCX closed connected July 15 astatine astir $135.27, with an intraday debased of $132.15, a 52-week debased connected a banal that had not adjacent been nationalist for 5 weeks astatine the time.

The Bitcoin question

Here is wherever it gets complicated. SpaceX disclosed holdings of 18,712 BTC connected its equilibrium expanse arsenic of March 31, 2026, valued astatine astir $1.29 cardinal astatine the time. With Bitcoin presently trading adjacent $63,000, that presumption is worthy astir $1.18 cardinal today.

Related: Hedge money manager calls SpaceX equivalent of Dogecoin, says investors are Musk's exit liquidity

That is not small. It makes SpaceX 1 of the astir important firm Bitcoin holders successful the world, sitting alongside Strategy and Tesla.

And it creates thing neither of those companies had astatine IPO, a listed banal that functions partially arsenic a leveraged Bitcoin proxy from time one.

Earlier this month, a dormant SpaceX Bitcoin wallet moved for the archetypal clip successful months, a tiny trial transaction that raised contiguous questions connected concatenation astir whether a larger transportation was coming.

What the terms enactment really means

SPCX reached its all-time precocious of $225.64 connected June 16, 2026, 4 days aft listing. The descent since past has been dependable and mostly uninterrupted. Analysts stay mostly bullish with an mean terms people of $242, which implies important upside from here.

But a banal losing 40% from its highest successful 5 weeks, with a 911.5 cardinal stock lockup overhang inactive pending, is not a banal wherever the fundamentals are doing the talking close now.

The Bitcoin connected SpaceX's books adds a wrinkle nary different rocket institution has ever had to manage. When Bitcoin moves, SpaceX's equilibrium expanse moves with it. Right present some are going successful the aforesaid direction, down.

Related: If you enactment $1,000 successful Bitcoin today, here's what it could crook Into by 2030 according to Cathie Wood

This communicative was primitively published by TheStreet connected Jul 16, 2026, wherever it archetypal appeared successful the MARKETS section. Add TheStreet arsenic a Preferred Source by clicking here.