Gulf sovereign wealth funds including Saudi PIF are ordering billions in SpaceX IPO shares, targeting a record $75B raise at a $1.7T-plus valuation.

The windfalls Gulf sovereign wealth funds are poised to receive will offer a nicely timed boost to their balance sheets.

SpaceX targets a $75 billion IPO on June 11, seeking a $1.8 trillion valuation. The company holds roughly 18,700 bitcoins on its balance sheet.

"Some have bid for $10 billion or more of stock..."