Crypto traders are looking past SpaceX’s expected IPO price and placing a higher value on Elon Musk’s rocket, satellite and artificial intelligence company ahead of its trading debut.
Perpetual futures, contracts that don’t expire, tied to SpaceX were trading around $165 on crypto venues Hyperliquid and Binance Thursday morning in New York, implying a valuation of roughly $2.2 trillion. The company is offering shares at a fixed price of $135 in its record-setting initial public offering.
