SpaceX plans a $75 billion IPO in June, which could impact tech stocks and Bitcoin

According to analyst Yashu Gola, SpaceX plans to conduct a $75 billion (approximately $75 billion) IPO in June. If the valuation reaches $1.75 trillion to $2 trillion after listing, it may be included in the Nasdaq 100 index within 15 trading days and expand the index's exposure to Bitcoin. SpaceX's latest S-1 file shows that it holds 18700 BTC worth approximately $1.45 billion. Combined with Tesla's 11500 BTC holdings, Musk's two companies will become important Bitcoin asset holders in the Nasdaq 100. Strategy CEO Phong Le stated that after SpaceX's IPO, Mag 7 will become Mag 8, with 25% of the company's balance sheet holding Bitcoin. Analyst Nic Puckrin believes that SpaceX's IPO may pose "bad news" for technology stocks, as passive funds need to buy SpaceX and sell existing component stocks such as Nvidia, Apple, and Microsoft, which may trigger a capital siphon effect. The report states that Bitcoin is highly correlated with the trend of large tech stocks, with a 30 day correlation of approximately 0.81 between BTC and the Magnificent Seven ETF (MAGS). The rebalancing of tech stock indices may have an impact on Bitcoin's short-term trend.