SpaceX's upcoming $75 billion IPO, slated for June, may significantly impact the Nasdaq 100 Index and Bitcoin exposure, according to analyst Yashu Gola. If SpaceX's valuation post-IPO reaches between $1.75 trillion and $2 trillion, it could be fast-tracked into the Nasdaq 100 within 15 trading days, increasing the index's Bitcoin exposure.
Bitcoin's recent high correlation with large-cap tech stocks, particularly the Magnificent Seven ETF (MAGS), which stands at approximately 0.81, suggests potential volatility. The analysis indicates that any downward pressure on tech stocks due to index rebalancing could also lead to short-term downside risks for Bitcoin.
SpaceX IPO Could Boost Nasdaq's Bitcoin Exposure, Pose Risks
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