SpaceX Investor Doubles Down on Pi Network (PI) – Why This Crypto Defies Skeptics in 2025

A heavyweight backer just threw fuel on Pi Network's fire—while half of crypto Twitter still debates if its tokens are 'real.'

The Elon-adjacent seal of approval

When a SpaceX-linked investor publicly bets on Pi, it's like finding a Tesla in a parking lot full of golf carts. Suddenly, everyone's rechecking their 'shitcoin' assumptions.

The FOMO paradox

No ATHs. No Binance listing. Just 35 million 'engaged users' mining tokens from their couches. Either this is the next Bitcoin...or the ultimate test of 'number go up' theology.

Wall Street meets Web3

Traditional finance types are clutching their pearls—since when do you get to print money by tapping your phone? (Answer: Since central banks did it first.)

One thing's clear: In 2025's crypto casino, Pi Network just got dealt a wild card.

TLDR

• Pi Network (PI) secured backing from 137 Ventures, a prominent Silicon Valley venture capital firm that previously invested in SpaceX and Spotify
• The token is trading at $0.4570, down 2.05% in 24 hours, with trading volume up 26.11% to $81.57 million
• Over 250 million PI tokens unlocked between June 28 and July 15, 2025, adding $135 million worth of tokens to the market
• Exchange reserves hit an all-time high of 370 million tokens in July, representing a 40% increase since March
• Pi Network’s mainnet launch is approaching after six years of development, with over 10,000 apps in its ecosystem

Pi Network has received backing from 137 Ventures, a Silicon Valley venture capital firm known for investments in SpaceX, Spotify, and Anduril Industries. The announcement was first highlighted by crypto analyst Mr. Spock and has drawn attention to the project’s mobile-first mining approach.

137 Ventures, a premier venture capital firm with a portfolio of 52 companies and 20 unicorns, has officially listed Pi Network as one of its most notable investments.

Let that sink in.

Out of a portfolio that includes some of the most transformative companies on Earth—Pi… pic.twitter.com/AcQAHXrASj

— Mr Spock 𝛑 (@MrSpockApe) July 7, 2025

The investment comes as PI Network prepares for its Open Mainnet launch after six years of development. The project has built a user base of over 47 million people through its mobile mining architecture that doesn’t require expensive hardware.

Pi Network is currently trading at $0.4570, representing a 2.05% decline in the past 24 hours. Despite the price drop, trading volume increased 26.11% to $81.57 million. The token has fallen 10.78% over the past week, showing continued selling pressure.

The project faces challenges from large token unlocks scheduled throughout 2025. Over 250 million PI tokens were unlocked between June 28 and July 15, injecting more than $135 million worth of tokens into circulation.

Another 300 million tokens are set to unlock next month. This has raised concerns about increased sell pressure on the token price. Analysts warn that a break below current levels could push PI back toward its previous low NEAR $0.40.

Market Dynamics and Exchange Activity

Exchange reserves for PI tokens reached an all-time high of 370 million in July. This represents a 40% increase since March and indicates more tokens are being transferred to exchanges for potential sale.

The high exchange reserves come despite positive developments in the Pi ecosystem. The project now features over 10,000 apps and has announced new partnerships along with a $100 million venture fund.

Major exchanges including Binance and Coinbase have not yet listed PI tokens. This lack of major exchange presence has limited liquidity and investor access to the token.

The Pi Network ecosystem has grown to include various decentralized applications and merchant integrations. These developments aim to create real-world utility for the token beyond speculation.

Token Performance and Community Concerns

Since its mainnet launch in February 2025, PI has dropped over 75% from its all-time high of $2.98. The current market capitalization stands near $3.5 billion.

Community members have raised concerns about transparency and insider activity. Investigations have alleged a 12 million PI token dump linked to the Pi Core Team, which reportedly affected the token’s value.

The project has faced criticism regarding decentralization, utility, and delayed KYC processes. Many users report frustration with ongoing KYC issues that prevent them from accessing mined tokens.

On-chain activity has reportedly declined while liquidity continues to thin. Brief price rallies have quickly faded as selling pressure persists.

137 Ventures’ backing represents institutional validation for Pi’s mobile-first approach to cryptocurrency mining. The firm’s previous investments in transformative technology companies positions Pi among recognized disruptors.

The venture capital backing coincides with Pi Network’s preparation for its Open Mainnet launch. The project has spent six years building infrastructure and developing its ecosystem of applications.