The SpaceX S-1 Just Dropped. Retail Buys at 116x Revenue on June 12. A Fidelity Fund Already Holds It for a Fraction of That.

Here’s a free SpaceX ticker — and why it’s the smallest part of this

Have you seen what’s sitting in a Fidelity fund called BPTRX? It holds SpaceX — marked $500 billion below the IPO price. That gap is real. That ticker is yours. Free.

But BPTRX is nothing… Nothing compared to what I’m about to show you in my free video.

Because the direct stake — the one Elon Musk is publicly predicting could turn a tiny $500 into $500,000 — has nothing to do with a fund. It’s a chance to get positioned before June 8. Before the roadshow opens the doors to millions of investors at once.

If you believe Musk, of course. I’ll let you decide after you watch.

SpaceX filed its S-1 prospectus with the SEC on May 20 — two days ago. The company is targeting a Nasdaq listing under the ticker SPCX on June 12, with the roadshow beginning June 4 and pricing on June 11. The deal aims to raise approximately $75 billion at a $1.75 trillion valuation. If it prices anywhere near that range, it surpasses Saudi Aramco’s 2019 listing as the largest IPO in history by a wide margin — nearly three times the previous record.

What this means for your retirement accounts: The implied valuation works out to roughly 109 to 116 times trailing revenue. That is higher than Tesla’s multiple at its 2010 IPO, and higher than nearly every other publicly traded company today. The S-1 revealed 2025 revenue of $18.67 billion with a $4.9 billion net loss and a $41.3 billion accumulated deficit. Starlink is the engine — it crossed 10 million subscribers and posted a $1.19 billion connectivity profit last quarter. But the overall company loses money, and the listing price asks you to pay a record multiple for it. As one analyst framed the real question: not whether to watch the open, but whether the valuation leaves any margin of safety on day one.

Why this matters if you hold index funds: Elon Musk retains 85.1% voting control through a super-voting share class — meaning SPCX shareholders should expect minimal say over governance. You would be buying a record-priced, money-losing company in which you have almost no voting power, at the exact moment millions of other retail investors rush in. The lead underwriters — Goldman Sachs, Morgan Stanley, Bank of America — do not price these deals to leave money on the table for day-one buyers. The structural detail most retail investors miss is that the people who do well in mega-IPOs are rarely the ones buying shares at the open.

There is a way to hold SpaceX exposure that does not involve paying 116x revenue on June 12 — and it is sitting inside a fund you can buy today. The bigger opportunity, though, is the one that has nothing to do with a fund at all.

[AD] Have you seen what’s sitting in a Fidelity fund called BPTRX? It holds SpaceX — marked $500 billion below the IPO price. That gap is real. That ticker is yours. Free. But BPTRX is nothing… Nothing compared to what I’m about to show you in my free video. Because the direct stake — the one Elon Musk is publicly predicting could turn a tiny $500 into $500,000 — has nothing to do with a fund. It’s a chance to get positioned before June 8. Before the roadshow opens the doors to millions of investors at once. Click here to watch my free video.

A Mutual Fund Bought SpaceX at $15 a Share. The IPO Asks You to Pay the Top. That Is the Difference Between Timing and Reacting.

What this means for your portfolio: The lesson of every mega-IPO is that the price you pay is decided by when you arrive. Ron Baron arrived years ago at $15. The forced index buyers arrive on Day 15 at whatever the market sets. Day-one retail arrives at the open, at the top of the demand wave. Owning SpaceX exposure through an existing fund — or through a documented pre-IPO route before the roadshow opens — is a fundamentally different position than buying SPCX at 116x revenue on June 12. The best trade here may be the overpayment you never make.

While Every Headline Watches SpaceX, the Plumbing for a Digital Dollar Is Already Live — and It Touches the Same Accounts

The SpaceX IPO is consuming the financial media’s attention — which is exactly when the slower, structural stories advance unwatched. The infrastructure for a U.S. central bank digital currency is not a future hypothetical. FedNow, the Federal Reserve’s instant-payment rail, has been live since 2023 and processes transactions for major banks. More than 130 countries are now developing or piloting central bank digital currencies. China’s digital yuan already supports programmable money — currency that can be set to expire or restricted to certain purchases.

Why this matters if you’re retired or near retirement: The current U.S. prohibition on a retail digital dollar rests on an executive order — which means it can be reversed by a future administration with a single signature, the same way it was created. The rails already exist. The question conservative savers are asking is not whether a digital dollar is technically possible — it plainly is — but what programmable, fully-trackable money would mean for financial privacy and control. The defensive answer is the same one that has worked through every currency transition in history: holding a portion of your savings in assets that sit outside the digital payment system entirely, where they cannot be frozen, tracked, or programmed.

Trump’s Dirty Secret

Trump messed up on stage once again. His staff was embarrassed and covered their faces… This time his mental faculties failed him again.

What did he do exactly? Trump slipped up and named the day the government will dump the US dollar.

And bring in the new digital dollar system. That gives them full control over YOUR money.

One Loud Event. One Quiet One. Both Run Through the Same Retirement Account — and the Defense Is the Same.

What this means for your portfolio: The loud event — the SpaceX IPO — tempts you to overpay at the top. The quiet one — the digital dollar infrastructure — advances while no one is watching. The defense against both is the same posture: don’t react after the move is made. With SpaceX, that means a smarter entry than buying at the open. With the digital dollar, it means holding a portion of your savings outside the payment system that could one day track and program every transaction. In both cases, the best trade is the loss you never take.

Trump messed up on stage

Trump slipped up and named the day the government will dump the US dollar. And bring in the new digital dollar system. That gives them full control over YOUR money.

Bottom Line

SpaceX filed its S-1 on May 20, targeting a June 12 Nasdaq listing under SPCX, with the roadshow beginning June 4 and pricing June 11. The deal aims to raise $75 billion at a $1.75 trillion valuation — the largest IPO in history, nearly three times the Saudi Aramco record. The implied multiple is 109 to 116 times trailing revenue, higher than Tesla’s 2010 IPO and nearly every public company today. The S-1 showed $18.67 billion in 2025 revenue, a $4.9 billion net loss, and a $41.3 billion accumulated deficit. Musk keeps 85.1% voting control. Day-one retail buyers pay the record multiple for a money-losing company in which they have almost no governance voice.

Have you seen what’s sitting in a Fidelity fund called BPTRX? It holds SpaceX — marked $500 billion below the IPO price. That gap is real. That ticker is yours. Free. Baron Partners bought much of its position at a split-adjusted $15 to $30 per share, while day-one retail arrives at 116x revenue on June 12. But BPTRX is the smallest part of it. The direct stake — the one Elon Musk is publicly predicting could turn a tiny $500 into $500,000 — has nothing to do with a fund. It’s a chance to get positioned before June 8, before the roadshow opens the doors to millions of investors at once. The best trade in a mega-IPO is often the overpayment you never make.

While every headline watches SpaceX, the infrastructure for a digital dollar is already live. FedNow has run since 2023. More than 130 countries are building central bank digital currencies. China’s digital yuan already programs money that can expire or be restricted. The U.S. retail-CBDC ban rests on an executive order — reversible with one signature. The advertiser’s claim is blunt: Trump slipped up and named the day the government will dump the US dollar and bring in the new digital dollar system that gives them full control over YOUR money. We can’t verify that staged moment — but the rails underneath the story are real, and a free briefing lays out what a programmable dollar would mean for your privacy and how to position outside it.

One event is loud, one is quiet, and both run through the same retirement account. The SpaceX IPO tempts you to overpay at the top; the smarter play is a lower-cost entry before the roadshow opens. The digital dollar advances while attention is elsewhere; the defense is holding a portion of your savings outside the payment system entirely, in assets that cannot be frozen, tracked, or programmed. Forget the hot picks — protect what you’ve already built. The investors who position before June 8, and before the digital-dollar rails are switched on for retail, are the ones who never have to react after the move is made. Because the best trade you’ll ever make is the loss you never took.