Bitcoin

<ul><li>SpaceX has reportedly decreased its Bitcoin holdings by $373 million in 2021 and 2022, possibly selling all of its cryptocurrency.</li><li>Tesla&#39;s Q2 2023 earnings report shows the company sold more than 30,000 BTC, retaining only $184 million of its original Bitcoin holdings.</li><li>MicroStrategy tops the list of public companies holding Bitcoin, with 152,800 Bitcoins, while Tesla ranks third with 10,725 BTC.</li></ul>SpaceX, an aerospace technology firm headed by Elon Musk, has reduced its Bitcoin holdings by $373 million over the past two years. According to a <a href="https://www.wsj.com/tech/behind-the-curtain-of-elon-musks-secretive-spacex-revenue-growth-and-rising-costs-2c828e2b" rel="noopener noreferrer nofollow">report</a> by The Wall Street Journal, there are indications that the company may have divested its entire cryptocurrency portfolio. Financial records indicate that the company had Bitcoin assets valued at $373 million during 2021 and 2022, but the precise details of the sale remain undisclosed.According to financial documents examined by the news organization, the firm incurred total expenses of approximately $5.2 billion in 2022. These documents also detailed expenditures of $5.4 billion in 2021 and 2022, allocated for the acquisition of property, equipment, and investment in research and development.In 2021, SpaceX&#39;s CEO, Elon Musk, <a href="https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html" rel="noopener noreferrer nofollow">publicly declared</a> the company&#39;s acquisition of Bitcoin. This announcement coincided with Tesla&#39;s intention to invest $1.5 billion in the digital currency, a decision that likely contributed to Bitcoin&#39;s price surge to an unprecedented high of over $43,000.Tesla&#39;s Q2 2023 earnings <a href="https://digitalassets.tesla.com/tesla-contents/image/upload/TSLA-Q2-2023-Update.pdf" rel="noopener noreferrer nofollow">report</a> shed light on the company&#39;s cryptocurrency transactions, revealing that it had retained only $184 million of its Bitcoin holdings. Specifically, Tesla sold more than 30,000 BTC in Q2 2022 for $936 million, nearly 75% of its initial investment.Musk, a prominent figure in the global financial landscape, is also known for his engagement with various digital currencies. His <a href="https://www.nytimes.com/2022/10/27/technology/elon-musk-twitter-deal-complete.html" rel="noopener noreferrer nofollow">acquisition</a> of Twitter in October 2022 for $44 billion, followed by its rebranding to X, has led to <a href="https://cryptotale.org/musks-x-twitters-transition-to-a-crypto-powerhouse/" rel="noopener noreferrer nofollow">speculation</a> about the platform&#39;s potential expansion into a cryptocurrency-friendly platform.Read full article at<a href="https://cryptotale.org/elon-musks-companies-make-waves-in-cryptocurrency-spacex-sells-tesla-holds/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Elon Musk's Companies Make Waves in Cryptocurrency: SpaceX Sells, Tesla Holds

CryptoTale

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