Grayscale Reveals The One DAT That Could Beat MicroStrategys Bitcoin Treasury
Grayscale Research says SpaceX is on track to become the largest diversified public company holding Bitcoin ($BTC). The Elon Musk-led space firm disclosed 18,712 $BTC on its balance sheet ahead of an early June listing. At a current $BTC price near $75,954, the holding is worth roughly $1.42 billion. That equals about 0.1% of the $1.75 trillion market capitalization SpaceX is reportedly targeting at IPO. Bitcoin Price Performance. Source: BeInCryptoWhy SpaceX Stands Apart From MicroStrategy Grayscale separates corporate Bitcoin holders into two camps.Pure-play digital asset treasuries (DATs) like MicroStrategy hold tokens primarily as a vehicle for equity investors. MicroStrategys record $BTC stack now sits near 843,738 coins with limited operating revenue outside that position.SpaceX sits in the second camp alongside Teslas Bitcoin treasury, Coinbase, and Block. Its rockets, Starlink network, and government space contracts generate revenue independent of crypto markets. The Bitcoin reserve serves as a small hedge rather than the centerpiece of the balance sheet. That distinction matters for how investors model the stock. A diversified business with a small $BTC position carries different risks than a leveraged Bitcoin proxy. Follow us on X to get the latest news as it happens Grayscale Expects More Corporate Adopters In its report, the firm said corporate buyers often allocate to