{"id":138600,"date":"2023-09-02T03:27:26","date_gmt":"2023-09-01T21:57:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138600"},"modified":"2023-09-02T03:27:26","modified_gmt":"2023-09-01T21:57:26","slug":"spacex-sold-373m-worth-of-bitcoin-acquired-in-2021-2022-report-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/spacex-sold-373m-worth-of-bitcoin-acquired-in-2021-2022-report-crypto-news\/","title":{"rendered":"SpaceX sold $373M worth of Bitcoin acquired in 2021-2022: Report – Crypto News"},"content":{"rendered":"
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Aerospace technology firm SpaceX reportedly sold roughly $373 million worth of Bitcoin (BTC<\/a>) it acquired starting in 2021.<\/p>\n

According to an Aug. 17 report in the Wall Street Journal, SpaceX recorded<\/a> $373 million worth of Bitcoin holdings on its balance sheet in 2021 and 2022, but has since sold the crypto asset. The news outlet reportedly viewed documents on the firm\u2019s financials showing roughly $5.2 billion in total expenses for 2022, and $5.4 billion in 2021 and 2022 for acquiring property and equipment in addition to research and development costs.<\/p>\n

SpaceX CEO Elon Musk<\/a> publicly announced in 2021 that the firm had acquired a certain amount of Bitcoin. This followed a U.S. Securities and Exchange Commission filing showing Tesla \u2014 another company co-founded by Musk \u2014 planned to purchase $1.5 billion worth of the crypto asset. The announcement likely contributed to BTC hitting a then all-time high price of more than $43,000.<\/p>\n

According to Tesla’s\u00a0Q2 2023 earnings report, the firm had sold all but $184 million<\/a> worth of its Bitcoin holdings. Tesla reported it had liquidated more than\u00a030,000 BTC in the second quarter of 2022\u00a0for $936 million \u2014 roughly 75% of its $1.5-billion BTC original holdings.\u00a0<\/p>\n

Related: <\/em><\/strong>Elon\u2019s \u2018not afraid of blowing things up\u2019 \u2014 ex-Twitter exec on working under Musk<\/em><\/strong><\/a><\/p>\n

Musk, one of the richest people in the world, has often taken to social media to comment on certain cryptocurrencies including Dogecoin (DOGE<\/a>) and Bitcoin, even briefly changing Twitter’s then blue bird logo<\/a> to the DOGE Shiba Inu. Since his $44-billion purchase of Twitter \u2014 later rebranded to X \u2014 in October 2022, he has suggested the platform<\/a> could offer an \u201dentire financial world\u201d including banking and payment services.<\/p>\n

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Doges ftw pic.twitter.com\/bl0trQ7BdU<\/a><\/p>\n

\u2014 Elon Musk (@elonmusk) July 19, 2023<\/a><\/p><\/blockquote>\n

The timing of SpaceX\u2019s reported Bitcoin sale is unclear, but the crypto market experienced a significant crash in 2022 amid the collapse of major firms including Terraform Labs. Many technology firms and financial institutions continue to hold Bitcoin<\/a> and other cryptocurrencies.<\/p>\n

Magazine: <\/em><\/strong>Simon Dixon on bankruptcies, Celsius and Elon Musk: Crypto Twitter Hall of Flame<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Aerospace technology firm SpaceX reportedly sold roughly $373 million worth of Bitcoin (BTC) it acquired starting in 2021. According to an Aug. 17 report in the Wall Street Journal, SpaceX recorded $373 million worth of Bitcoin holdings on its balance sheet in 2021 and 2022, but has since sold the crypto asset. The news outlet […]<\/p>\n","protected":false},"author":2,"featured_media":138601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-138600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138600"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138600\/revisions"}],"predecessor-version":[{"id":148022,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138600\/revisions\/148022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138601"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}