SpaceX Is Now Worth $2.4 Trillion, Making It Twice as Valuable as Bitcoin. But Here's Why I'm Still Buying Bitcoin.

Elon Musk's rocketry business is off to a great start on the public stock market. One holiday-shortened week after its initial public offering, Space Exploration Technologies (NASDAQ: SPCX) is up 14.9% from last Friday's closing price. With a market cap of $2.43 trillion, it's nearly equal to "Magnificent Seven" member Amazon and about twice as valuable as Bitcoin (CRYPTO: BTC), which is currently sitting at $1.24 trillion.So, Wall Street is excited about SpaceX while Bitcoin is taking a beating. As of June 19, the largest cryptocurrency is down 28% year to date and just 6% above early June's multiyear lows.But I'm not giving up on Bitcoin. Trading at 130 times trailing sales, I'm not interested in the speculative SpaceX stock today. I'd much rather invest in a financial tool for the future at this unsustainably low price.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool