SpaceX holds $603M in Bitcoin despite $5B loss stemming from xAI (opens in new tab)

(coindesk.com)

27 pointslexandstuff28d ago9 comments

9 comments

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?

dlcarrier28d 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.

chistev28d ago

Bitcoin is a good investment.

free_bip28d ago

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

lesuorac28d 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_spel28d ago

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

mint528d ago

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

1 more reply

rogerkirkness28d 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.

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