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The Economic Times
The Economic Times
Business

Why Elon Musk-led blockbuster SpaceX IPO may spell more bad news for crypto

SpaceX's much-anticipated $75 billion initial public offering, set to be the largest ever, will likely keep cryptocurrency prices in the doldrums as retail investors attracted to new and risky artificial intelligence stocks scramble to get a slice of the action.

Celebrity billionaire Elon Musk's rocket and satellite communications company - which merged with his AI startup xAI earlier this year - is expected to fetch a valuation of around $1.75 trillion, sparking a ‌Wall Street and media frenzy.

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