Bitcoin

Stash

<span style="color: rgb(28, 25, 23); font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, Oxygen, Ubuntu, Cantarell, &quot;Fira Sans&quot;, &quot;Droid Sans&quot;, &quot;Helvetica Neue&quot;, sans-serif; font-size: medium;">Elon Musk’s aerospace company SpaceX has reportedly sold off its entire holdings of bitcoin, valued at around $373 million. The liquidation of SpaceX’s bitcoin assets comes during a period of weakness in the cryptocurrency market. 
<p class="whitespace-pre-wrap" style="border: 0px solid rgb(229, 231, 235); --tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgba(59,130,246,.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; color: rgb(28, 25, 23); font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, Oxygen, Ubuntu, Cantarell, &quot;Fira Sans&quot;, &quot;Droid Sans&quot;, &quot;Helvetica Neue&quot;, sans-serif; font-size: medium;">Shortly after the reports emerged, nearly $800 million positions were liquidated across major cryptocurrencies within 30 minutes. While it is not confirmed whether SpaceX’s bitcoin sell-off directly triggered the liquidations, the timing has sparked speculation. 
<p class="whitespace-pre-wrap" style="border: 0px solid rgb(229, 231, 235); --tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgba(59,130,246,.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; color: rgb(28, 25, 23); font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, Oxygen, Ubuntu, Cantarell, &quot;Fira Sans&quot;, &quot;Droid Sans&quot;, &quot;Helvetica Neue&quot;, sans-serif; font-size: medium;">Some analysts view SpaceX’s sale as a negative signal for bitcoin. As a high-profile company that invested heavily in bitcoin, SpaceX’s apparent loss of confidence could prompt similar moves by other institutional investors. 
But, was this a loss of confidence or only a temporary move by SpaceX? 
<p class="whitespace-pre-wrap" style="border: 0px solid rgb(229, 231, 235); --tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgba(59,130,246,.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; color: rgb(28, 25, 23); font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, Oxygen, Ubuntu, Cantarell, &quot;Fira Sans&quot;, &quot;Droid Sans&quot;, &quot;Helvetica Neue&quot;, sans-serif; font-size: medium;">The reasons behind SpaceX liquidating its bitcoin remain unclear. The company has made no statements, and the sell-off may be unrelated to bitcoin’s fundamentals. Nevertheless, the report has added pressure on bitcoin’s price amid the ongoing cryptocurrency bear market. The asset’s brief recovery above $28,000 was cut short following the liquidations. 
<p class="whitespace-pre-wrap" style="border: 0px solid rgb(229, 231, 235); --tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgba(59,130,246,.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; color: rgb(28, 25, 23); font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, Oxygen, Ubuntu, Cantarell, &quot;Fira Sans&quot;, &quot;Droid Sans&quot;, &quot;Helvetica Neue&quot;, sans-serif; font-size: medium;">Questions remain whether enough buyers will step in to absorb the surge in sell orders. While concerning, it remains to be seen whether SpaceX’s bitcoin sale represents a loss of institutional confidence or is simply a one-off decision. The cryptocurrency markets remain volatile and prone to speculation-driven swings. 
Join us on <a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">Tw</a><a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">i</a><a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">tter</a> and <a href="https://www.facebook.com/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Facebook</a> for the latest insights and discussions in the world of crypto. 
Explore our <a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a> and stay ahead of the curve with our expert <a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>. 
The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/elon-musks-spacex-liquidates-entire-373000000-bitcoin-stash/">Elon Musk’s SpaceX Liquidates Entire $373,000,000 Bitcoin Stash</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.

Elon Musk’s SpaceX Liquidates Entire $373,000,000 Bitcoin Stash

CaptainAltcoin

Other articles published on Aug 17, 2023

Ini Syarat Harga BTC Jadi US$150 Ribu

Major Cryptocurrencies Face Decline: Bitcoin Dips Below $29K Level

Bitcoin reaches ATH in Argentina as pro-crypto candidate wins primaries

Alex Salinov: “I am constantly evaluating how we can spur innovation in the NFT space by empoweri...

SEC’s ETF Decision Could Propel Bitcoin Price Beyond $150K

Empowering Young Minds: Bitcoin Education in El Salvador Transforms Lives

Join our free newsletter for daily crypto updates!