Elon Musk's SpaceX IPO may drain liquidity from Bitcoin

Elon Musk is preparing to suck the oxygen out of the crypto markets. Reports suggest SpaceX plans to reserve up to 30% of its initial public offering for retail investors, a move that gives the general public a rare direct shot at the aerospace giant. It's a massive distraction for capital that usually flows into high-risk digital assets. When a generational company like SpaceX finally hits the public tape, investors shouldn't be surprised if people sell their Bitcoin and Ethereum stacks to fund their buy-in. We've seen this play out before when high-profile equity debuts cannibalize the speculative appetite for tokens. Traders are already weighing whether the allure of Starship and Starlink will outweigh the current momentum of the spot ETFs. If retail traders have to choose between a mission to Mars and a digital store of value, the choice might not be as simple as Bitcoin bulls think. Will the Musk effect leave crypto liquidity stranded on Earth?