SpaceX Valuation Nears Twice the Size of Bitcoin’s Market

SpaceX has surged more than 40% since its June 12 debut, lifting the Elon Musk-led company to an estimated market value of about $2.5 trillion. That makes SpaceX the world’s sixth-largest company and puts its valuation at nearly twice the size of the entire bitcoin market, which CoinDesk reported at about $1.2 trillion on Wednesday.

The comparison matters because SpaceX is now drawing from the same pool of speculative capital and retail attention that often supports crypto markets. CoinDesk noted that the move reflects where investors are directing risk budgets as enthusiasm returns across high-growth assets.

Part of the rally appears tied to market structure. Only around 4.2% of SpaceX shares were available to trade on the first day, meaning a limited float helped a small amount of trading activity set a much larger headline valuation for the company.

Investor interest has also expanded beyond rockets. SpaceX’s February acquisition of xAI brought Grok models and data centers into the business, positioning the company more directly against AI firms such as OpenAI and Anthropic. The company also announced an agreement to take over AI coding startup Cursor in a deal valuing it at $60 billion.

The valuation has drawn caution as well. SpaceX posted a $4.94 billion net loss in 2025 on $18.67 billion in revenue, and its current market value implies a multiple of more than 130 times sales. Analysts cited by CoinDesk warned that expectations leave limited room for disappointment and that any stumble could ripple across broader equities, AI-linked names and crypto sentiment.