The SpaceX IPO is coming! Everyone on Wall Street is excited, and for good reason, given the massive size of the deal, which is expected to raise $75 billion. There’s an interesting twist here, however, because SpaceX is likely to appeal to more aggressive investors. The very same type of investor that buys cryptocurrency. Don’t get too worried, even if there’s some short-term disruption in the crypto space.

How low will crypto go?

Bitcoin (CRYPTO: BTC) is the grandaddy of all cryptocurrencies. It is down nearly 40% over the past year and off nearly 50% from its 2025 high, which was also its all-time high. This drawdown isn’t actually unusual, as Bitcoin has lost more than 60% three times, with its worst decline exceeding 80%. That said, technically speaking, the absolute worst-case scenario is that all cryptocurrencies fall to zero. After all, the only thing supporting the price of a cryptocurrency is the willingness of people to buy and hold it.

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SpaceX is likely to be a temporary distraction

Right now, the typically more aggressive investors who would invest in crypto appear to be more interested in prediction markets. That’s highlighted by Robinhood‘s (NASDAQ: HOOD) first-quarter earnings results. Transaction-based revenues from crypto trading fell 47% year over year, while prediction market revenue skyrocketed 320%.

There big takeaway from Robinhood’s results: Even though there’s a hot new investment fad (prediction markets), people are still trading crypto. The SpaceX IPO could draw some investors away from both crypto trading and prediction markets, but the IPO is a one-time event. After it is over, trading around SpaceX may remain elevated for a while, but it will eventually slow. And then people will come back to crypto trading and prediction markets.

SpaceX is a proponent of crypto

The truth is, Bitcoin is interesting because it operates outside the realm of government-backed money. That may give it, and perhaps a small number of other cryptocurrencies, functional value that provides a price floor. For example, SpaceX’s IPO prospectus shows that it owns 18,712 Bitcoin, a hoard worth more than $1 billion. SpaceX could actually lead other companies to follow suit and build their own positions as a financial reserve.