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Analysis-Why the blockbuster SpaceX IPO may spell more bad news for crypto
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- Analysis-Why the blockbuster Space X IPO may spell more bad news for crypto Hannah Lang Wed, June 10, 2026 at 5:02 PM GMT+7 4 min read SPCX By Hannah Lang
- Bitcoin, the world s largest cryptocurrency, was last trading near the $60,000 level, down about 52% from its all-time high of $126,223 in October.
- "Crypto is a funding currency for a lot of this," said Spencer Hallarn, global head of over-the-counter trading at GSR, a crypto trading firm and liquidity provider.
Analysis-Why the blockbuster Space X IPO may spell more bad news for crypto Hannah Lang Wed, June 10, 2026 at 5:02 PM GMT+7 4 min read SPCX By Hannah Lang
June 10 (Reuters) - Space X s much-anticipated $75 billion initial public offering, set to be the largest ever, will likely keep cryptocurrency prices in the doldrums as retail investors attracted to new and risky artificial intelligence stocks scramble to get a slice of the action.
Celebrity billionaire Elon Musk s rocket and satellite communications company - which merged with his AI startup xAI earlier this year - is expected to fetch a valuation of around $1.75 trillion, sparking a Wall Street and media frenzy.
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