SpaceX IPO Mania Is Draining the Market - Cramer Calls Bitcoin and Gold "Bad Money"

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SpaceX IPO Mania Is Draining the Market – Cramer Calls Bitcoin and Gold “Bad Money”

The most anticipated stock debut in history is triggering a broad sell-off across crypto, commodities, and tech.

Investors are cashing out everywhere ahead of SpaceX’s historic IPO, and Jim Cramer just handed the internet a new meme in the process.

What Happened

On Wednesday, CNBC’s Jim Cramer posted on X that markets are seeing a broad liquidation as investors free up cash for SpaceX’s debut, widely expected to be the largest IPO in stock market history. He sorted the sell-offs into two camps: Bitcoin and gold as “bad money” getting dumped, and Nvidia and Apple as “good money”, also getting dumped.

The post immediately went viral.

By the Numbers

Over the past 30 days, nothing has been spared:

Bitcoin: -1.48%, trading at $61,974 at time of writing, up 1.07% in 24hrs
Spot Gold: -8.83%
Nvidia: -6.17%, closed Wednesday at $200.42 (-3.73%)
Apple: -6.94%, closed at $291.58 (+0.35%)

Market Reaction

Space stocks surged. Bitcoin dipped. Several strategists are directly linking both moves to SpaceX IPO speculation. Cramer himself flagged concerns that SpaceX hype, including its anticipated S&P 500 inclusion, could be pulling capital away from the Magnificent 7.

Why Traders Are Watching

Crypto Twitter celebrated Cramer’s “bad money” Bitcoin label as a textbook buy signal, referencing the long-running “Inverse Cramer” theory. Whether that plays out depends heavily on post-IPO sentiment this Friday.

What’s Next

All eyes on SpaceX’s Friday debut. If it disappoints, expect capital to rotate back fast.

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