SpaceX has priced its initial public offering at $135 per share, initiating trading on the Nasdaq under the ticker symbol SPCX. This historic transaction raises $75 billion, marking the largest IPO in history. The deal values the company near $1.75 trillion, positioning Elon Musk to potentially become the world’s first trillionaire.
Demand for the shares exceeded $250 billion, with retail investors contributing over $100 billion. The market reaction was immediate and extended into the cryptocurrency sector. Bitcoin rose approximately 1.6% to roughly $63,550, recovering losses from early June. Solana gained 3%, while XRP and Dogecoin each climbed 2.3%. Hyperliquid saw a sharper bounce of 7.6%.
Dogecoin’s movement mirrored the broader market, despite its historical correlation with Musk-related news. Investors are now watching the first trade of SPCX closely. A strong debut will confirm a sustained risk-on environment, while a weak start could test current market resilience.