SpaceX, the space venture led by Elon Musk, reportedly recorded a decrease in the value of its Bitcoin holdings by a total of $373 million in both 2020 and 2021, as per the Wall Street Journal’s report on Thursday.
The publication referred to documents that offered a rare insight into the financials of the aerospace company.
The Wall Street Journal also indicated that SpaceX had engaged in the sale of Bitcoin, although the exact amount sold and the timing of the sales were not specified in the report.
Elon Musk acknowledged in a discussion in 2021 that SpaceX possessed Bitcoin. However, the precise quantity of Bitcoin owned by the company remained undisclosed due to SpaceX’s private nature.
Notably, Tesla, another company helmed by Musk and renowned for its electric vehicles, also held bitcoin. During the same event in 2021, Musk revealed that Tesla had allocated $1.5 billion to Bitcoin as part of the company’s balance sheet strategy.
Subsequently, Tesla divested itself of approximately $936 million worth of Bitcoin. Musk’s affinity for cryptocurrencies has been evident over the years; he notably incorporated the logo of the popular meme cryptocurrency Dogecoin, represented by the symbol “Ð,” in his X social media page’s bio. His social media posts about various tokens have been known to significantly influence their market prices.
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