SpaceX stock vs crypto stocks: which 2026 IPO era bet actually pays

SpaceX is trading below its $135 IPO price. Marathon Digital is down 34% year to date. Coinbase has outperformed both. The math on which tech bet delivers risk adjusted returns has not been done until now. Summary SpaceX stock (SPCX) trades at approximately $131 as of mid August, 3% below its $135 IPO price from June 2026, after peaking at $225.64 and declining 48% from that high, giving early investors a negative return two months into the listing. Coinbase (COIN) has returned roughly 18% year to date through August 2026, outperforming SpaceX, Marathon Digital, Riot Platforms, and every other publicly traded crypto company, driven by exchange volume and stablecoin custody revenue rather than bitcoin price appreciation alone. Marathon Digital (MARA) and Riot Platforms (RIOT) have declined 34% and 29% respectively in 2026, tracking bitcoin’s flat to negative price action while absorbing rising energy costs and post halving margin compression. A dollar invested in bitcoin on January 1, 2026 would have returned approximately 4% by mid August, while a dollar invested in MARA would have lost 34 cents, meaning the underlying asset outperformed the company that mines it by 38 percentage p...