SpaceX's bitcoin holdings have decreased from a peak of 28,000 BTC (valued at approximately $1.8 billion) to 8,285 BTC (valued at approximately $574 million), a reduction of nearly 70% over two years. The company recorded impairments on bitcoin worth $373 million in 2021 and 2022 respectively. SpaceX is preparing for a historic IPO valued at up to $1.75 trillion, and although its remaining bitcoin holdings are relatively small compared to the company's overall size, this still makes it one of the few large publicly traded companies with bitcoin on its balance sheet.