Melody
06/16 12:35
Musk's SpaceX Is About to Cost as Much as Two Bitcoins
Advertisement
Against the backdrop of Bitcoin's own market capitalization now standing at $1.33 trillion, Musk's company is preparing to set new records and become roughly twice as valuable as the world's main cryptocurrency.Two Bitcoins for one companyThe key driver of the pre-market rally was the official announcement of a $60 billion acquisition of Anysphere, the startup behind the popular AI assistant Cursor. The deal is intended to strengthen the position of xAI, whose chatbot Grok has so far lagged behind giants such as OpenAI and Anthropic in code writing. Cursor, by contrast, has shown excellent momentum, managing to increase its annual revenue from $100 million to $2 billion in just 13 months.
HOT Stories
Schiff Calls Out Bad Math in Strategy's Bitcoin Plan
Crypto Miner MARA Buys 1,000 Bitcoin
The deal is expected to close in the third quarter, while Anysphere's shareholders will receive payments in shares of the space giant.
Advertisement
Bitcoin and SpaceX price action since the IPO of the latter, Source: TradingViewAt the same time, speculative interest around SPCX is being fueled by a certain shortage of shares on the market, as retail investors currently hold about one-third of the total share volume. Financial providers have already launched specialized ETFs with double leveraged exposure to SPCX, while the market is discussing rumors of a possible merger between SpaceX and Tesla.
You Might Also Like
Tue, 06/16/2026 - 10:37
Bitcoin OG Moves 2,373 BTC After 7 Years of Silence
ByCaroline Amosun
Nevertheless, major analysts are calling for caution, since from a fundamental standpoint SpaceX still remains an unprofitable and heavily overvalued business, having lost $4.3 billion in the first quarter of this year and trading at a high price-to-revenue multiple of around 134x.
Advertisement
Statistics from similar large IPOs also point to the probability of a future price correction, which, against the backdrop of inflated stock market multiples, is making crypto optimists increasingly vocal about Bitcoin's undervaluation, given its scarcity and clear mathematical design.
#TradFi Trading Strategies Sharing Challenge#1$ Margin Trade#BTC Prophet: 20-Day 380 Million HTX Challenge
4Condividi
Tutti i commenti0RecentePopolare