SpaceX's $75B IPO could pull the liquidity rug from under bitcoin and crypto!

SpaceX's planned June IPO — targeting a $75 billion raise at a $1.75 trillion valuation — would be more than 2.5 times larger than Saudi Aramco's $29 billion 2019 record. Add OpenAI's Q4 listing near a $1 trillion valuation and Anthropic's reported $60 billion-plus October debut, and PitchBook estimates the three deals would pull more than $240 billion from markets in a single six-month window — exceeding every venture-backed US IPO combined since 2000.

Crypto trades in the same risk-on liquidity pool as high-growth equities, and the mechanics are direct. SpaceX's 30% retail allocation — roughly $22 billion, three times the typical retail share — is capital that won't be bidding on bitcoin or altcoins. Institutional rebalancing ahead of the listing adds a second pressure channel. The historical parallel is uncomfortable: bitcoin hit its then-all-time high of $64,800 the day Coinbase…