SpaceX Valuation Skyrockets Faster Than a Startled Hitchhiker

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The market value of Elon Musk’s spacefaring juggernaut is swelling on Nasdaq with all the subtlety of a hyperactive whale, its capitalization now hurtling toward a figure roughly equivalent to two entire Bitcoins. Yes, two. As if one weren’t already enough to make accountants weep. After an IPO session that leapt nearly 20%-presumably because gravity took the day off-the premarket decided to join the fun and flung the stock another 11% upward, nudging SpaceX’s valuation past a breezy $2.5 trillion.

Meanwhile, Bitcoin sits at a modest $1.33 trillion, quietly wondering how it became the benchmark for interplanetary capitalism. Musk’s company appears poised to become twice as valuable as the world’s most famous digital coin, which must be terribly confusing for anyone who still thinks “mining” involves shovels.

Two Bitcoins for one company

The pre-market frenzy was largely fueled by the announcement of a $60 billion acquisition of Anysphere, the creators of the AI assistant Cursor-an entity that writes code with the enthusiasm of a caffeinated octopus. The acquisition aims to bolster xAI, whose chatbot Grok has been trailing behind OpenAI and Anthropic in the “teaching machines to think without panicking” department. Cursor, however, has been on a tear, boosting its annual revenue from $100 million to $2 billion in just 13 months, which is either impressive or a sign that reality has become optional.

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The deal is expected to close in the third quarter, with Anysphere’s shareholders receiving their payout in SpaceX shares-because nothing says “thank you” like handing someone a piece of a rocket company and hoping it doesn’t explode.

Speculative interest in SPCX is also being stoked by a shortage of available shares, as retail investors currently clutch about one-third of the total supply like dragons guarding shiny things. Financial providers have already launched double-leveraged ETFs tied to SPCX, presumably for people who enjoy both risk and heart palpitations. Rumors are swirling about a potential SpaceX-Tesla merger, which would create a company capable of launching cars into space on purpose this time.

Still, analysts are urging caution, pointing out that SpaceX remains unprofitable and extravagantly overvalued, having lost $4.3 billion in the first quarter alone. Its price-to-revenue multiple sits at around 134x, a number so high it should probably come with a warning label.

Historical data from similarly enormous IPOs suggests a correction may be looming. This, combined with today’s inflated market multiples, has crypto enthusiasts loudly insisting that Bitcoin is undervalued-because nothing says “sound financial reasoning” like shouting into the void about mathematical scarcity.

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2026-06-16 15:53