Bloomberg Calls SpaceX Treasury Company Idea Ill-Timed After $500 Million DAT Trade Frenzy
Updated
Updated · Bloomberg · Jun 26
Bloomberg Calls SpaceX Treasury Company Idea Ill-Timed After $500 Million DAT Trade Frenzy
3 articles · Updated · Bloomberg · Jun 26
Summary
Bloomberg argues a SpaceX treasury company concept has arrived too late, saying the optimal window was about a year ago when investors were rewarding asset-holding vehicles aggressively.
The critique centers on the digital asset treasury company boom: firms could buy roughly $500 million of crypto and see public valuations jump toward $1 billion.
That trade rested on US stock investors paying $2 or more for each $1 of underlying crypto, a premium that fueled a wave of similar structures.
The model spread beyond crypto into gold and even GameStop-linked treasury concepts, which Bloomberg cites as context for why a SpaceX version now looks poorly timed.