SpaceX, OpenAI and Anthropic IPOs Weigh on Bitcoin
Bitcoin fell about 17% in two weeks to near $63,000 as investors consider SpaceX’s June 12 IPO and possible OpenAI and Anthropic listings that could total over $3 trillion.
Bitcoin traded just above $63,000 after losing about 17% over the past two weeks as markets priced in a series of large artificial intelligence initial public offerings expected this year and next.
SpaceX, which combined operations with xAI earlier this year, is targeting a June 12 Nasdaq debut under the ticker SPCX. Current estimates put the combined valuation near $1.75 trillion and the offering could raise up to $75 billion. The public listing would provide exposure to Starlink satellite broadband, xAI model development and planned large-scale computing infrastructure.
Anthropic filed confidential IPO paperwork on June 1 and is aiming for a public debut later this year. The company, known for its Claude family of models, has reported rapid enterprise adoption.
OpenAI is expected to pursue a public listing in the second half of 2026. Private funding rounds have valued the company at about $852 billion, and some market observers expect a valuation above $1 trillion when shares begin trading.
Together, SpaceX, OpenAI and Anthropic could represent more than $3 trillion in market value if their public offerings reach current estimates.
Large public offerings can prompt portfolio managers, pension funds and asset allocators to rebalance holdings to free capital for new allocations. Likely sources of funds include positions in companies that have served as AI proxies, such as chipmakers, cloud providers and major software firms. Some market participants are monitoring whether investment flows could shift from cryptocurrencies into direct equity in AI companies.
Bitcoin remains below its late 2025 highs and several crypto firms have delayed or reconsidered IPO plans. Market participants note that past large listings have at times been absorbed without broad market disruption. Others point to global liquidity, central bank policy and adoption trends as factors influencing bitcoin over the longer term.
CoinShares has highlighted speculation about potential capital flows into AI-focused investments and precious metals. Michael Saylor has noted that growing enthusiasm for AI opportunities may be affecting investor choices.
The scale and timing of any reallocation should become clearer once SpaceX begins trading and as OpenAI and Anthropic move forward with filings.
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