SpaceX's market value approaches twice the total market value of bitcoin, far surpassing the crypto market's risk appetite
Odaily reported that after its IPO, the company's market value has continued to soar, now exceeding 2.5 trillion USD (around the 2.6 trillion USD range). Since its listing on June 12, the price has increased by over 40%, making it the sixth largest company in the world and approaching twice the market value of Bitcoin. This has drawn attention to the reallocation of risk capital in the market.
Analysts point out that the current rally is partly due to supply-side factors, as SpaceX is expanding from a single aerospace company into an "AI + technology conglomerate." This "AI innovation + high-growth narrative" is competing with the crypto market for the same risk budget and capital flow.
However, the valuation risk for SpaceX is also rising; the company currently has losses of about 494 million USD and revenue of roughly 18.67 billion USD, meaning its valuation is over 130 times its revenue. Some analysts describe this as an "almost Meme-level valuation." (CoinDesk)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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