SpaceX begins trading on Nasdaq after $75 billion IPO
SpaceX is set to start trading on Nasdaq today, following the largest IPO in history with investors pumping in $75 billion.
The debut could have a significant impact on financial markets, including crypto, with some analysts drawing comparisons to previous large IPOs.
Recent outflows of over $5 billion from bitcoin may be a sign of caution, as record IPOs are often a hallmark of excess optimism and market tops.
The pattern of large IPOs near major market tops has been observed in the past, with examples including Saudi Aramco and Alibaba.