Breaking: SpaceX Unloads $373M Worth of Bitcoin Holdings; BTC Price Dumps
advertisement BTC/USD 1-day price chart, Source: Trading View SpaceX Sells Bitcoin (BTC) The Wall Street Journal reports on August 17 revealed that SpaceX had recorded Bitcoin holdings amounting to $373 million on its balance sheet during 2021 and 2022. Documents showed that the firm’s total expenses for 2022 were approximately $5.2 billion, with $5.4 billion spent in 2021 and 2022 on acquiring property, equipment, research, and development. While SpaceX has been tight-lipped about the sale, this move indicates a strategic shift in the company’s financial portfolio. It’s important to note that Elon Musk, SpaceX ’s CEO, publicly announced in 2021 that SpaceX had acquired an unspecified amount of Bitcoin. In the same year, a filing with the U.S. Securities and Exchange Commission disclosed that Tesla, another company co-founded by Musk, had plans to purchase $1.5 billion worth of the cryptocurrency. Such announcements contribut...