Is Bitget SpaceX's subscription value worth fighting for? Based on market valuation, the profit margin is already very clear (not for Guangchun tap water) The first phase of Bitget's IPO Prime is launched by SpaceX, with a subscription price set at 650U, corresponding to a valuation of approximately 1.5 trillion yuan. The subscription period is: April 18th 14:00-April 21st 14:00 In terms of credit limit: Non VIP users: can subscribe to 1000U VIP1-VIP7 users: can subscribe to 150000-300000 U In addition, Bitget also provides VIP users with additional benefits: In order to repay the long-term trust and accompany Bitget's customers, the platform will airdrop 2 rounds of preSPAX tokens for free to existing VIP customers and new VIPs next week. As long as you click "Join Now" on the activity page and maintain VIP status until the airdrop is distributed, you can receive the corresponding airdrop. So, this opportunity is not just about whether subscribing can make money, This also includes the additional revenue increase brought by VIP airdrops. How do you view the profit from this subscription? Bitget gives you entry based on a valuation of 1.5 trillion yuan, ultimately depending on how much the market is willing to value SpaceX. The data for this IPO Prime is also quite clear: • Total subscription amount: 94000 copies • Total subscription value: 61.1 million U Single subscription cost: 650U That is to say, the profit margin of this batch of shares should not be based on short-term token fluctuations, But it should depend on how much premium SpaceX's subsequent market valuation can bring if it exceeds 1.5 trillion yuan. What is the profit margin of this subscription based on different market valuations? Theoretical profit margin calculated based on different market valuations one ️⃣ Scenario 1: Market valuation is calculated at 1.63 trillion yuan (as of Jup's pre-market) If the market values SpaceX at 1.63 trillion, So the share of 1.5 trillion yuan obtained this time already has a clear premium. Correspondingly: Each unit is worth approximately 706U • Single profit of approximately 56U Overall 94000 theoretical profits of approximately 5.26 million U The overall return is approximately 8.6% This means that even if the market only slightly raises its valuation, This subscription has already generated a decent profit margin as a whole. two ️⃣ Scenario 2: Market valuation calculated at 1.75 trillion yuan If the market further sets SpaceX at 1.75 trillion, The profit margin of this batch of shares will significantly increase. Correspondingly: A single unit is worth approximately 758U • Single profit of approximately 108U The overall theoretical profit is approximately 10.15 million U • Overall return of approximately 16.6% At this point, this subscription is not just about 'meat', But it has already entered a considerable profit range. three ️⃣ Scenario 3: Market valuation calculated at 2 trillion yuan If the market continues to rise to 2 trillion, The entry point provided by Bitget with 1.5 trillion yuan this time will further amplify its value. Correspondingly: A single unit is worth approximately 867U • Single profit of approximately 217U The overall theoretical profit is approximately 20.4 million US dollars The overall return is approximately 33.4% This level already belongs to very flexible valuation returns. four ️⃣ Scenario 4: Market valuation calculated at 2.1 trillion yuan If market sentiment is strong enough, or if future IPO expectations continue to rise, If SpaceX is set at 2.1 trillion yuan, the profit margin will be further expanded. Correspondingly: Each unit is worth approximately 910U • Single profit of approximately 260U The overall theoretical profit is approximately 24.44 million US dollars The overall return is about 40% I think based on the above idealized state, this is seen as an opportunity for early positioning of the valuation. What truly affects your final earnings is not just valuation, but also the percentage of successful signings The logic is easy to understand this time, but we cannot just look at the profit limit. If the subscription is booming, you will eventually face a very practical problem: You may not be able to fill it up. So the most accurate characterization this time should be: The profit of the winning part depends on how much the market valuation is adjusted upwards; The final income of the total account also depends on how much share you actually receive. let me put it another way: If you win many contracts, the return on valuation will be significant If you win fewer contracts, the total revenue will be diluted If you are still a VIP, adding 2 rounds of free airdrops will increase the overall participation value If we only look at the essence, the logic behind Bitget's SpaceX subscription this time is actually very clear: Take market share at a valuation of 1.5 trillion yuan, and price the future market at a higher valuation. The profit margin is not just announced, but depends on where SpaceX is ultimately recognized by the market. From the calculation perspective: 1.63 trillion valuation: Overall theoretical profit of approximately 5.26 million US dollars Valuation of 1.75 trillion: Overall theoretical profit of approximately 10.15 million US dollars 2 trillion valuation: Overall theoretical profit of approximately 20.4 million US dollars 2.1 trillion valuation: Overall theoretical profit of approximately 24.44 million US dollars So this time is more like a time: The returns depend on high-quality subscription opportunities that are subject to market valuation adjustments and are also limited by the success rate. If you are already a VIP, This is not just a subscription opportunity, This is still an opportunity for dual thickening through subscription and airdrop. *The current predicted data is only based on the pre-market sentiment of JUP, which is a prediction of the pre-market market sentiment and not an accurate forecast https://jup.ag/tokens/PreANxuXjsy2pvisWWMNB6YaJNzr7681wJJr2rHsfTh I personally think that SpaceX's valuation doesn't stop here, and I hope everyone can win the lottery and get enough market share! What is more noteworthy is that this SpaceX subscription is not just a standalone event, it actually reflects a very clear direction of Bitget in the past two years: In a bear market cycle, it's not just about chasing trading heat, but also about continuously filling in the longer-term asset investment landscape. When many platforms are still revolving around short-term market trends, hot coins, and traffic products, Bitget's willingness to open up global top scarce assets like SpaceX in a way that is closer to user participation is itself a manifestation of product and resource integration capabilities. In other words, the significance of this subscription is not just about whether it can make a profit, Moreover, Bitget is attempting to provide platform users with an investment gateway that used to have extremely high barriers to entry—— Provide ordinary users with the opportunity to access top unlisted assets in the US stock market. @Bitget_zh @GracyBitget @xiejiayinBitget @Bitgetyaya