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Bitcoin Plunges After SpaceX Sells

Bitcoin (/BTC) plunges after a WSJ report of a SpaceX write-down. According to the WSJ, SpaceX wrote down the value of Bitcoin it owns by $373M in 2021 and 2022. Kevin Green joins Alex Coffey and Jenny Horne to discuss how SpaceX sold some of its Bitcoin. He talks about how SpaceX's approach to Bitcoin is similar to Tesla's (TSLA). Kevin highlights that this could be concerning for further downside movement in Bitcoin. Tune in to find out more about the stock market today.

Next Gen Investing

21 Aug 2023

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