SpaceX is set for the biggest IPO in history on June 12, raising around $75B at a $1.75T valuation. Some analysts believe it could pressure Bitcoin short-term.
Why?
• Money may move from crypto to SPCX
• Investors may prefer “real tech” over crypto narratives
• Retail could sell BTC/ETH to buy SpaceX shares
• IPO hype may shift attention from crypto
• Institutions could rotate funds into SPCX
Bullish side for BTC:
• SpaceX still holds 18,712 BTC
• No signs of Bitcoin selling
• IPO profits may later flow back into crypto
Short-term pressure possible, long-term impact unclear.