Masud Dewan

#teslalagsspacexinipoweek The Great Musk Divergence 🚀🔋 The historic SpaceX IPO on June 12 has created a fascinating divergence within the Musk empire. While SpaceX ($SPCX) surged roughly 20% on its debut day, hitting a ~$2 trillion valuation , Tesla ($TSLA ) finished the holiday-shortened week lower — a stark contrast that has investors rethinking their Musk allocation. The core thesis: Capital is flowing from the mature Musk bet (Tesla, ~$500B market cap, struggling with EV margins and demand compression) into the growth Musk bet (SpaceX, Starlink's expanding constellation, Starship's next-gen launch economics). Investors are effectively rebalancing their "Musk exposure" in real time. On-chain fireworks: SPCX went tokenized on day one via Ondo Finance across SOL, ETH, and BNB Chain. The tokenized stock ecosystem's cumulative volume blew past $20 billion — with $4.3B in just the last 30 days. Solana alone captured 99% of tokenized SpaceX spot volume on debut, with Jupiterjup.ag serving as the dominant venue. The speed and liquidity of Solana's DeFi rails proved there's insatiable demand for blue-chip stocks on-chain. The ironic subplots: 👏Elon Musk actually owns more Tesla (~10%+ via options) than SpaceX, yet the market is rewarding SpaceX more aggressivelyFTX's creditors , who lost everything in 2022, stand to make billions from 👏FTX's $190M SpaceX investment routed through K5 Global — a poetic turnaround 👏Both companies combined hold 30,221 BTC (~$1.9B) — enough to rank as the 5th largest public BTC holder globally. Tesla holds 11,509 $BTC ($725M), while SpaceX holds 18,712 BTC ($1.18B), making it the 8th largest publicly disclosed BTC holder Per The Kobeissi Letter, this IPO has fundamentally reshaped how capital flows between Musk-linked assets — and right now, Tesla is the one losing share. The question going forward: does this mean Tesla is oversold relative to SpaceX, or is this a structural rotation toward the higher-growth narrative?