SpaceX just pulled off the biggest IPO in history. The company raised $75 billion in mid-June 2026, pricing shares at $135 each, and the market responded immediately.
Shares opened around $150 and kept climbing. Within early sessions, the stock had jumped anywhere from 20% to 50%, pushing the total market cap above $2.5 trillion at its peak.
At the time of writing, it stands at $191, down 4.9% from the previous $201 rate.
Source: Tradingview Official
That number matters. The total crypto market cap at the same time sat around $2.2 trillion. One company — rockets, satellites, government contracts, now outweighs the entire digital asset space combined.
Crypto analyst AshCrypto put the contrast front and center on June 17, 2026. A side-by-side graphic showed SpaceX's $2.5T valuation stacked directly against crypto's $2.2T total market cap. The image spread fast.
The gap is not just a number. It tells a story about what markets are currently rewarding.
SpaceX got here through things people can see and measure:
Starlink satellite internet with rapidly growing subscribers worldwide
Falcon 9 reusable rockets dominating commercial launch schedules
Government and NASA contracts providing steady revenue streams
Starship development pointing toward long-term heavy-lift capability
Revenue was running at roughly $18–20 billion annualized.
The crypto community did not stay quiet.
One side saw it as a reality check. $SPCX has physical infrastructure, signed contracts, and consistent launch cadence. Cryptocurrency, for all its growth, still carries the "prove it" label in many traditional finance circles.
The other side pushed back with optimism. Crypto has gone through rapid expansions before, and if decentralized finance, real-world asset tokenization, and global payments reach mainstream scale, the gap could close. Markets can hold two big stories at once.
As for the overall crypto market today, it's a little down today.
Source: CoinMarketCap Official
Bitcoin traded at $63,800 during this period, down 2.89% over 24 hours, with a market cap of approximately $1.276 trillion on its own. The broader crypto market held at $2.2 trillion (-3.02%), with the fear and greed index at 21.
The IPO also crossed a personal milestone for Elon Musk. His large ownership stake in SpaceX, reported at around 82% control post-IPO, made him the world's first trillionaire.
That level of concentrated ownership in a newly public company is rare. It also means Musk's personal influence over the space economy, and by extension over adjacent sectors like AI and satellite internet, just grew significantly.
SpaceX now sits among the top six largest U.S. public companies by market cap, briefly overtaking Amazon during peak trading sessions.
The next catalysts are now Starlink subscriber growth figures, upcoming Starship test results, and how institutional money moves once early lock-up periods on the stock begin to expire.
On the SpaceX side, analysts at Morningstar flagged the stock as overvalued even before it hit peak levels. The company trades at over 90 times sales — a multiple that demands near-perfect execution for years. Any Starship delay, regulatory block on launch frequency, or Starlink spectrum dispute could hit that premium hard. Early investors also face lock-up expiry, which historically brings selling pressure.
Crypto carries its own set of pressures right now. Altcoin selling just hit a 5-year high, the fear and greed index sits at 21, and the Fed's latest hawkish signals triggered $440 million in crypto liquidations in a single session. Regulation remains unresolved across major markets.
The overlap risk is macro. A broad tech selloff, rising interest rates, or a geopolitical event in space infrastructure could pressure both asset classes at the same time, since both now sit at multi-trillion valuations priced heavily on future growth.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets carry significant risk. Always do your own research before making any investment decisions.
