SpaceX wrote down bitcoin holdings by $373 million: WSJ

Quick Take

  • “SpaceX wrote down the value of bitcoin it owns by a total of $373 million last year and in 2021 and has sold the cryptocurrency,” the Wall Street Journal reported Thursday.

Elon Musk's space firm SpaceX wrote down the value of bitcoin it held by a total of $373 million last year and in 2021, the Wall Street Journal reported Thursday, citing documents it said provided a rare look into the firm's financials. 

The paper also said the rocket company had sold bitcoin, but it didn't specify how much or when. 

Musk mentioned in a 2021 talk that SpaceX owned bitcoin, but it wasn't known how much at the time since the firm is private.

Tesla also held bitcoin 

Tesla, the other Musk-led company known for its electric vehicles, also owned bitcoin. In the same 2021 event, Musk said that Tesla had added $1.5 billion in bitcoin to the firm's balance sheet.

The company has since sold $936 million worth of bitcoin, The Block previously reported. 

Musk has been a longtime cryptocurrency aficionado, having the logo for the popular memecoin Dogecoin symbol "Ð" in the bio of his X social media page. His posts about about various tokens are known to move their prices. 

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