SpaceX Prices IPO, Bitcoin Moves Above $63,000 after Trump Calls Off Attack, and Strategy Resumes Buying

Takeaways

• SpaceX set for record-breaking IPO: The record-setting public debut will value the company at about $1.77 trillion and is four times oversubscribed, indicating strong institutional demand for one of the most anticipated public offerings in recent memory. SpaceX will allocate about 30% of the sale to retail, well above the roughly 5% to 10% typically set aside for non-institutional investors.
• Bitcoin moves higher after Trump cancels more strikes on Iran: The moves came after Trump had threatened to escalate attacks and seize Kharg Island, citing the slow progress in negotiations over striking a new nuclear deal with the Iranian regime. But Trump said he ultimately called off more attacks “based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved.” The US will continue to blockade Iranian ports until the deal is finalized, potentially ending months of US conflict in the Middle East.
• Strategy buys more than $100M BTC following controversial sale: resuming its aggressive accumulation Strategy after it unloaded 32 BTC on June 1, sparking concern among investors. With the latest buy, Strategy now owns 845,256 BTC at an average purchase price of $75,620. This week, Strategy CEO Phong Le said the sale was not made due to financial distress. “We did not need to sell our Bitcoin to satisfy our dividends,” Le said. “We’re able to do that through other capital-raising activities.”
• XRP continues downward move: Over the past six months, XRP has stayed in a bearish trend, dropping more than 40%. Since hitting an all-time high of $3.65 in July 2025, XRP has dropped more than 70%. But institutional investors continue to show interest in XRP, with XRP spot ETFs recording $131.94 million in inflows in May and an additional $4.13 million through early June, pushing the total XRP ETFs to more than $1 billion in assets under management.

Sign up for a Gemini account

The secure way to buy, sell, store and convert crypto. Millions use Gemini to diversify their portfolios.

Onward and Upward,
Team Gemini

^*This material is for informational purposes only and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of Gemini. Gemini, its affiliates and its employees do not make any representation or warranty, expressed or implied, as to accuracy or completeness of the information or any other information transmitted or made available. Buying, selling, and trading cryptocurrency involves risks, including the risk of losing all of the invested amount. Recipients should consult their advisors before making any investment decision. Any use, review, retransmission, distribution, or reproduction of these materials, in whole or in part, is strictly prohibited in any form without the express written approval of Gemini.