SpaceX Sputters as Bitcoin Outperforms Amid Lockup Looming

SpaceX's highly anticipated IPO has been met with disappointment after it plummeted 12.7% in value since its launch on June 12. This decline is even more striking when compared to Bitcoin, which dropped only 7.5% during the same period.

The company's lack of earnings history and looming lockup expiry have raised concerns about its long-term viability. The lockup expiry, set for an unspecified date in the future, could lead to a further decrease in value as restrictions on selling shares are lifted.

Despite being hailed as one of the most exciting IPOs of the decade, SpaceX has failed to impress investors, with some questioning whether it's worth betting on Musk's rockets over Bitcoin. The contrast between these two assets highlights the risks and uncertainties associated with investing in new ventures.