SpaceX’s market value is nearing $2.6 trillion—close to twice Bitcoin’s—dwarfing risk appetite across the crypto market.

Deep Tide TechFlow news: On June 17, according to CoinDesk, after its IPO the stock continued to surge; its latest market capitalization has surpassed $2.5 trillion (around the $2.6 trillion range), up more than 40% in total since its listing on June 12. It has risen to become the world’s sixth-largest company, nearing twice Bitcoin’s market capitalization, drawing market attention to “risk capital reallocation.”

Analysts note that part of this rally is driven by supply-side structure factors, as SpaceX is expanding from a single aerospace company into an “AI + technology conglomerate.” This “AI innovation + high-growth narrative” is competing for the same risk-budget capital flows as the crypto market.

However, the valuation risk for SpaceX is rising as well. The company is currently reporting a loss of about $494 million and revenue of about $18.67 billion, which corresponds to a valuation of more than 130 times revenue. Some analysts describe it as “meme-like valuation levels.”