SpaceX IPO Could Become Short-Term Pressure Source for Bitcoin

Odaily News Analysts believe that SpaceX's upcoming IPO could become a new source of short-term pressure for Bitcoin and the crypto market. Since the company is reportedly set to allocate up to 30% of its IPO shares to retail investors, some investors may sell high-risk assets such as Bitcoin and Ethereum to free up capital to participate in this popular offering.

SpaceX plans to issue shares at $135 each, aiming to raise $75 billion, with a valuation of approximately $1.77 trillion. A GSR trading executive stated that crypto assets could serve as one of the sources for some investors to raise funds for the IPO.

There has been recent speculation that the SpaceX IPO, along with potentially upcoming high-profile IPOs from companies like OpenAI and Anthropic, could lead to capital outflows from the crypto market, placing downward pressure on Bitcoin and Ethereum prices.

However, SpaceX's public listing could conversely boost related on-chain trading activity. Currently, platforms such as Hyperliquid and Binance already offer SpaceX-related perpetual contracts and tokenized stock products, and trading activity for these assets may further increase with the IPO.