SpaceX didn’t just go public. It went supernova.

Shares of Elon Musk’s rocket and satellite company climbed in premarket trading following their Friday debut on the Nasdaq under the ticker SPCX. After pricing at $135 per share on June 11, the stock opened around $150, touched an intraday high near $176, and settled at $160.95 by the close. That’s a 19% pop on day one, which, for a company that raised $75 billion in the largest IPO in recorded history, is the kind of thing that makes investment bankers weep tears of joy.

The listing vaulted SpaceX’s market capitalization to approximately $2.3 trillion, instantly placing it among the most valuable public companies on US exchanges. The company sold 555.6 million shares in the offering, underwritten by Goldman Sachs.

The Bitcoin angle Wall Street didn’t see coming

Here’s where things get interesting for the crypto crowd. Buried in SpaceX’s IPO filings was a disclosure that the company holds 18,712 BTC, valued at roughly $1.3 billion.

The revelation adds SpaceX to a growing roster of major public companies that treat Bitcoin as a treasury reserve asset. MicroStrategy pioneered that playbook years ago, but seeing a $2.3 trillion aerospace giant adopt the same strategy carries a different kind of weight.

Capital rotation fears and crypto market dynamics

Market analysts have flagged the potential for short-term capital rotation out of digital assets and into SpaceX shares. The logic is straightforward: when a once-in-a-generation IPO lands, it creates a gravitational pull on investment capital. Money that might have flowed into Bitcoin, Ethereum, or altcoins could instead chase the momentum of a freshly public rocket company trading at massive volume.

Platforms offering tokenized exposure to traditional equities, including names like Hyperliquid and Binance, could also see increased activity among crypto-native traders who want exposure without opening a brokerage account.

Musk becomes the world’s first trillionaire

The IPO had personal consequences for Elon Musk that border on the absurd. His significant stake in SpaceX, combined with his holdings in Tesla and other ventures, pushed his net worth past the $1 trillion mark. He is now, by most estimates, the world’s first trillionaire.

SpaceX had been building toward this moment for months. The company confidentially filed its IPO paperwork in April 2026, followed by an official prospectus submission in May, leading to a June roadshow that generated overwhelming institutional demand. The company’s core businesses—launch services, the Starlink satellite internet constellation, and human spaceflight operations—gave investors a diversified revenue story that pure-play tech companies often lack.