SpaceX’s $2.6 trillion market cap nearly double that of bitcoin
Eight days after its IPO, SpaceX has surged past $2.5 trillion to become the world’s sixth-largest company. And market watchers say it is pulling the risk capital crypto wants.
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Summary
- SpaceX shares have surged more than 40% since their June 12 debut, giving the company a roughly $2.5 trillion valuation that makes it the world’s sixth-largest firm and nearly twice the size of the entire bitcoin market.
- The rally is being driven in part by a very limited float and investor enthusiasm for SpaceX’s push into artificial intelligence via its acquisition of xAI and a $60 billion deal for coding startup Cursor, putting it in direct competition with OpenAI and Anthropic.
- Analysts warn that SpaceX’s lofty valuation—more than 130 times 2025 sales despite a nearly $5 billion net loss—leaves little room for error, and a stumble could rattle broader markets, AI highfliers and crypto just as risk appetite returns.
