[SpaceX's Market Value Approaches Twice Bitcoin's Total Market Cap, Crushing Crypto Market Risk Appetite] Odaily Planet Daily News: Following its IPO, SpaceX's market value has continued to soar, recently surpassing $2.5 trillion (approximately $2.6 trillion range). Since its listing on June 12, the company's valuation has risen by over 40%, making it the sixth-largest company globally and approaching twice Bitcoin's market cap, sparking market discussions about 'risk capital redistribution.' Analysts point out that this round of growth is partly driven by supply structure factors, as SpaceX transitions from a single aerospace company to an 'AI + tech conglomerate.' This 'AI innovation + high-growth narrative' is competing with the crypto market for the same risk budget capital flow. However, SpaceX's valuation risks have also risen simultaneously. The company currently reports a loss of approximately $494 million and revenue of about $18.67 billion, corresponding to a valuation exceeding 130 times its revenue, which some analysts have described as 'meme-like valuation levels.' (CoinDesk)