'SpaceX Is the Equivalent of Dogecoin,' Mark Yusko Says: 'And if Elon Sold 1 DOGE, It Would Go to Zero'

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Jul 14

Morgan Creek Capital founder Mark Yusko called the SpaceX (NASDAQ:SPCX) IPO an engineered squeeze that leaves retail investors holding an overpriced security while insiders cash out. Yusko’s argument,...

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And if Elon sold one Doge, Doge would go to zero,” he added.\nYusko acknowledged SpaceX has a real satellite business but dismissed the AI data center narrative as technologically impossible and said the company’s free cash flow remains deeply negative with no clear path to profitability.\nYusko’s sharpest challenge is a valuation one. SpaceX enters public markets at a $2 trillion starting valuation, and investors drawing comparisons to early Microsoft or Apple are working from a broken premise.\n“The U.S. GDP today is $31 trillion,” Yusko said. “If SpaceX goes 10x, you’re saying one company with no profits is going to be half of U.S. GDP. It’s not going to happen.”\nHis warning on lockup expiry is direct. When early holders start selling, he expects the price to fall significantly. “I think that goes down a lot. A lot,” he said.\nDogecoin trades below its 20, 50, 100, and 200-day EMAs, with the bearish alignment across all timeframes confirming sustained downside pressure. \nThe descending trendline continues to cap recovery attempts as DOGE tests a key demand zone around $0.07 to $0.0690.\nThe broader selloff was triggered by President Donald Trump reinstating a U.S. blockade on the Strait of Hormuz and proposing a cargo fee, escalating Middle East tensions and pushing crypto into risk-off territory. \nOver $360 million was liquidated from the crypto market, with the Fear and Greed Index hitting Extreme Fear.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}