SpaceX, the renowned aerospace technology firm, reportedly wrote down the value of its Bitcoin holdings by a total of $373 million in 2021 and 2022, according to an Aug. 17 report by The Wall Street Journal. The report suggests that SpaceX may have sold its entire Bitcoin stash, although it remains unconfirmed whether the entire $373 million worth of Bitcoin was liquidated.
The Wall Street Journal, after reviewing the firm’s financial documents, reported that SpaceX’s expenses amounted to roughly $5.2 billion in 2022. Additionally, the company spent $5.4 billion in 2021 and 2022 on acquiring property, equipment, and research and development.
Elon Musk, the CEO of SpaceX, had publicly announced in 2021 that the firm had acquired a certain amount of Bitcoin. This announcement followed a U.S. Securities and Exchange Commission filing that revealed Tesla, another Musk co-founded company, had plans to purchase $1.5 billion of the…
