SpaceX liquidates its $373 million Bitcoin position amid chronic crypto market crash

Reports indicate that SpaceX has liquidated its entire Bitcoin position in an epic sell-off worth $373 million amid a tectonic market crash.

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The price of Bitcoin is an a freefall and according to reports more than $800 million in cryptocurrency positions were liquidated within just 30 minutes.

SpaceX liquidates its $373 million Bitcoin position amid chronic crypto market crash 255

The mass sell off caused the price of Bitcoin to plummet down to $25,300, the lowest its been since January this year. The liquidations coincide with a recent article published by The Wall Street Journal that revealed rare details about Elon Musk's private space flight company SpaceX.

The report from Wall Street Journal revealed details about Elon Musk's finances and claimed that SpaceX's Bitcoin holdings were $373 million for last year and the year before, but the company has now "sold the cryptocurrency".

The report from WAPO is being accused of causing the massive market crash, as it insights to SpaceX's finances, in particular its purported BTC sell off, resulted in mass fear, uncertainty and doubt. It should be noted that there isn't any official documentation or confirmation from Elon Musk that SpaceX has sold its Bitcoin position as the company is private.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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