SpaceX holds $603M in Bitcoin despite $5B loss stemming from xAI

keypusher 35 days ago |

these two things don’t really have anything to do with each other, and the article just restates the same two facts over and over again. they have held this BTC since 2024, this year thru lost a bunch of money trying to integrate xAI. so… what?

dlcarrier 35 days ago | |

I'm glad to see I'm not the only one that was thrown off from the non sequitur. The article reads like they would need to sell their Bitcoin to cover the acquisition, but it was all stock, so the loss really only exists on paper.

chistev 35 days ago |

Bitcoin is a good investment.

free_bip 35 days ago | |

Only if you're the one currently manipulating its price. Otherwise someone else will manipulate it, possibly not in your favor.

lesuorac 35 days ago | | |

But as long as they manipulate it twice or somebody else manipulate it twice then you're golden.

While I don't believe much in the utility of bitcoin over say a ledger of USD it's hard to argue with historical data.

lern_too_spel 35 days ago | | |

The historical data for purely speculative assets is hard to argue with, indeed.

mint5 35 days ago | | |

Ah yes historical events, the famously reliable predictor of future events until they aren’t.

lesuorac 35 days ago | | |

Perhaps you haven't heard. Those who don't learn from history are doomed to repeat it.

rogerkirkness 35 days ago |

Going double or nothing using a business that invented reusable rockets and makes $8B a year in profit as the bet is overwhelming to think about.