SpaceX IPO would eclipse Tesla in market value while holding less Bitcoin — challenging the idea of a Bitcoin proxy
A $2T listing would shift how Bitcoin appears in equities, even as it remains a minor part of SpaceX’s value
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A $2T listing would shift how Bitcoin appears in equities, even as it remains a minor part of SpaceX’s value
Oluwapelumi Adejumo 4 min read
Caps, rebalances, and the products that typically follow a new benchmark.
xAI's potential fundraising comes weeks after completing a $10 billion debt and equity round at an approximate valuation of $150 billion.
The index tracks the seven largest US technology companies, Coinbase's own stock, and BlackRock's Bitcoin and Ethereum ETFs.
Block joins the index along with Tesla and Coinbase, with a 0.09% weight and 8,584 BTC in reported holdings.
The largest tokenized stocks, TSLAx and SPYx, have less than 10% ratio of DeFi usage compared to their market caps.
GameStop shares jumped over 7% in the after-market following the announcement.
Bitcoin's performance alongside the Nasdaq highlights its growing role in investment portfolios, according to Standard Chartered.
Arkham suggested that the Tesla's recent Bitcoin movement might be geared towards obtaining a Bitcoin-backed loan.