Bitcoin Whales gain with their SpaceX short positions
Last Updated on 13 July 2026 by CryptoTips.eu
About a month ago, we saw a massive shift of investment capital from the crypto market going towards the Nasdaq, specifically to bet on the IPO of SpaceX, Elon Musk’s rocket company. However, many “crypto whales” who typically invest in Bitcoin chose to bet on just one outcome of the rally, namely a decline. At that time, short positions worth around $300 million were already betting on a SpaceX crash on the Hyperliquid platform.
Those figures have since risen, and fortunately for those crypto whales, they are making a handsome profit, as SpaceX shares are now already trading some 10% lower than on their first day.
Long March 10B
There are two reasons for this. First, it was quite clear that Musk and his fellow board members were going to take profits as from the moment the stock broke through the $200 mark during the first week.
After all, they had been able to buy in at $150 prior to the IPO, so they pocketed a very handsome profit.
Secondly, it has since emerged that SpaceX’s reusable rocket technology has also been copied by China. Last week, they unveiled their Long March 10B rocket to the world, demonstrating a section of the launch vehicle returning precisely to the launch pad about 10 minutes after liftoff.
We can only hope that the various crypto whales now decide to take their profits and reinvest their capital in Bitcoin over the next few weeks and months.
