SpaceX Just Lost $600 Billion in Value in Less Than Two Weeks. That's Why I'm Buying Bitcoin.

SpaceX’s blistering valuation rise has already reversed quickly, with the company described as having lost more than $600 billion in value in under two weeks after its IPO. SpaceX (NASDAQ: SPCX) began trading June 12, 2026 at $135 per share, reaching a record intraday high of $225.64 by June 16 and briefly lifting market cap to $2.66 trillion. As of publication, the stock trades around $160 and is valued near $2.02 trillion. The article attributes the pullback to a high price-to-sales multiple—142 times 2025 revenue of $18.7 billion, still 106 times last year’s sales—alongside continued losses from its space division and xAI. It also cites investor rotation to crypto, pointing to Bitcoin’s record $126,272 peak in October and an approved early-2024 spot ETF as longer-term supports.