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<ul> 
 <li>SpaceX records a $373 million write-down on Bitcoin holdings, signaling potential divestment from cryptocurrency.</li> 
 <li>Bitcoin’s value plunges 7.0% in 24 hours and 9.6% over the week, while a crypto analyst predicts potential bottom and long-term bullish trend.</li> 
 <li>Confusion arises over whether SpaceX sold $373 million in Bitcoin or reduced its activity, as social media reports provide conflicting information.</li> 
</ul> 
<p>SpaceX, the pioneering aerospace company helmed by tech tycoon Elon Musk, has made a significant financial adjustment by recording a staggering $373 million write-down on its Bitcoin holdings over the past two years.</p> 
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   <p lang="en" dir="ltr">Bitcoin plunges on reports of SpaceX selling $373 million worth of bitcoin. <a href="https://t.co/eVh91iACSh" rel="noopener noreferrer nofollow">pic.twitter.com/eVh91iACSh</a></p>— Citizen Free Press (@CitizenFreePres) <a href="https://twitter.com/CitizenFreePres/status/1692516269939986606?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 18, 2023</a> 
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<p>The write-down, a reflection of the decrease in the recorded value of Bitcoin on SpaceX’s balance sheet, comes as a surprise given the company’s earlier foray into the world of digital currencies.&nbsp;</p> 
<p>In 2021, SpaceX revealed its entry into the crypto realm, acquiring an undisclosed amount of Bitcoin. However, the recent action indicates a possible shift in strategy as the aerospace giant grapples with an evolving financial landscape.</p> 
<p>Simultaneously, Bitcoin, the cryptocurrency market’s frontrunner, has been experiencing a rollercoaster ride in value. Over the last 24 hours, its price has plummeted 7.0%, contributing to a substantial 9.6% decline throughout the week. Despite this tumultuous market performance, influential crypto analyst “Credible Crypto” predicts that this downturn might mark a potential bottom for Bitcoin’s price. He remains resolute in his belief in a robust long-term bullish trend.</p> 
<p>Amidst these developments, confusion has arisen regarding the nature of SpaceX’s actions. Social media platforms are buzzing with conflicting reports about whether SpaceX sold a substantial chunk of its Bitcoin holdings or merely scaled back its activity in the cryptocurrency realm by $373 million. The company’s lack of clear communication has led to speculation and uncertainty among cryptocurrency enthusiasts.</p> 
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<h4 class="wp-block-heading" id="h-read-also">Read also:</h4> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/spacexs-surprising-bitcoin-move-373m-write-down-sparks-speculation/">SpaceX’s Surprising Bitcoin Move: $373M Write-Down Sparks Speculation</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

SpaceX’s Surprising Bitcoin Move: $373M Write-Down Sparks Speculation

Crypto News Land

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