The highly anticipated SpaceX IPO is set to take place in six weeks, and its impact on the crypto market is a topic of interest. With a targeted $75 billion capital raise at a $1.75 trillion valuation, this IPO has the potential to be the largest in history, surpassing Saudi Aramco's $29 billion record in 2019. SpaceX is not alone, as OpenAI and Anthropic are also planning to go public, with combined funding exceeding $240 billion. This massive capital influx could lead to a diversion of liquidity away from bitcoin and crypto, as investors allocate their funds towards these new IPOs.
The historical parallel with Coinbase's IPO in 2021, which marked the peak of the last bitcoin cycle, serves as a point of concern. As the IPO approaches, it will be crucial to observe whether crypto can maintain its current momentum or if it will be impacted by the impending liquidity shift.