SpaceX has maintained its substantial Bitcoin holdings through market volatility, keeping approximately $1.6 billion worth of cryptocurrency in Coinbase Prime custody without selling—even after reporting significant financial losses this year. The aerospace giant, now ranked as the world's fourth-largest corporate Bitcoin holder behind MicroStrategy, Marathon Digital, and Riot Platforms, will disclose its cryptocurrency reserves in upcoming IPO filings, signaling a major shift in how blue-chip companies view digital assets as strategic treasury reserves rather than speculative investments.
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 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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