THE bitcoin depreciates inexorably. Several factors contribute to this tumble: among others mass liquidations and SpaceX-related FUDs. And regarding this aerospace technology company of Elon Musk, a investigation by The Wall Street Journal on his bitcoin holdings created a controversy in the cryptosphere. Let’s see what it’s all about.
SpaceX is out of bitcoins?
Of all of Elon Musk’s businesses, Tesla would be the richest in bitcoins. As a reminder, the electric car manufacturer made the purchase of BTC to the tune of $1.5 billion in early 2021.
Gradually, Tesla separated from its bitcoin holdings: first sale for 272 million dollars in the first quarter of 2021. Other disposals followed, in particular during the year 2022, against a backdrop of the bear market.
Despite its losses related to bitcoin, Tesla kept a certain amount in its wallet: 9,720 BTC kept in its wallet at 4e quarter 2022.
” NEWS: Elon Musk’s SpaceX sold all of his $373 million worth of bitcoin – WSJ »
While digging on this topic, we saw in a Cointelegraph article that SpaceX would have depreciated the value of the bitcoins in its possessionor $ 373 million, in 2021 and 2022. And it could even be that this Elon Musk-owned company has sold all of its BTC holdings.
Cointelegraph also quoted an article from The Wall Street Journal yesterday August 17 reporting that:
” SpaceX wrote down the value of the bitcoins it owns by a total of $373 million last year and in 2021, and sold the cryptocurrency “.
Divergence of ideas around the WSJ report
To advance the points mentioned above, WSJ had to consult documents on the finances of SpaceX. The company would have spent:
- $5.2 billion in 2022;
- 5.4 billion dollars in 2021 and 2022 to buy goods and equipment to supply its Research and Development branch.
This report does not mention no date on sale of SpaceX bitcoins. Nevertheless, some analysts argue that they took place during 2022, given the situation of the cryptocurrency market during this year.
” We are unable to confirm reports that SpaceX sold $373 million worth of Bitcoin.
The WSJ report is not clear and states that ‘SpaceX depreciated the value of the Bitcoin it has by a total of $373 million last year and in 2021 and sold cryptocurrency’.
At this time, there is no other evidence to confirm the reports. »
This lack of confirmation caused a controversy in community X (old Twitter). Some have decried the lack of seriousness in disseminating such information without evidence.
Even crypto outlets like Bitcoin Magazine were treated to a virtual lynching after reporting the news. Its CEO, David Bailey, had to promise this:
” WSJ used rotten wording, we’re trying to clarify with SpaceX how much they sold “.
In any case, this did not help the situation for bitcoin. Its price was down to $25,392.05 last nighta decrease of 7.8%, specifies Investors Business Daily.
At the time of writing, it has risen again, to trade at $26,456.76.
In addition to this case of the sale of bitcoins by SpaceX, the series of massive liquidations, valued at 386 million dollars of liquidated purchases, also impact the queen of cryptocurrencies. Nevertheless, this situation is conducive to buying.
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