It's wild how some folks here think Elon is only letting SpaceX and Tesla hold bitcoin just for the publicity.
Seriously, that’s just dumb! If Elon wanted attention, a marketing budget would be way cheaper, lol.
So, SpaceX just confirmed it's going public, which could be the biggest IPO ever and might even make Musk the first trillionaire.
They filed an S-1 with the SEC, giving investors a sneak peek into one of the most valuable private companies before the IPO next month.
As of late March, SpaceX had 18,712 bitcoins on its balance sheet, valued at $1.29 billion in the filing. Today, those bitcoins are worth around $1.45 billion since prices are just over $77,000.
That puts SpaceX in a small club of big companies with major bitcoin holdings. And don't forget, Tesla has 11,509 bitcoins too, according to BitcoinTreasuries.
I just hope Elon Musk will not use bitcoin to advertise any other coins like doge. I still remember how he made Tesla accepted bitcoin as payment for the car purchase in 2021, but he suddenly said Tesla has stopped accepting bitcoin as payment, that he will accept a coin that is using just 1% of the energy bitcoin is using for mining. We all knew it was doge he was going for and he later accepted doge. What was more painful was how bitcoin crashed at the time.
They would adopt and accept bitcoin in the whole X ecosystem... Definetely they will use bitcoin in my opinion and not just "store"/ use as a new form of capital. I am not surprised at all, both from the "economic value" , or by technology value...
At least they are not supporting memecoins or other altcoins.
Any attempt to put effort in this activity would just delay a fair adoption of bitcoin as form of payment.
Elons companies were some of the first to have Bitcoin as part of their treasury. At the time, it seemed like it was an ideological move but after the sudden change of mind, when Tesla stopped accepting Bitcoin after a few months and even sold most of their holdings, people were more dismissive.
Trying to promote Dogecoin as a serious thing also made me skeptical of Musk. SpaceX might still be holding Bitcoin, but Bitcoin has grown beyond the point where this gives it any meaningful validation. SpaceX does not impact Bitcoin in any way. SpaceX will likely be worth over $1 trillion when it goes public, so holding a small amount of Bitcoin wont really matter much to them either.
Yeah, elon stopping support for BTC payment due to fossil fuel concern only to later on create Collosus AI data center running 1 million GPUs with the same fuel. I still hope they accept bitcoin again though.
I see it as investment diversification and nothing more though, if only SpaceX accepts bitcoin for their Starlink payment the same way tesla accepts dogecoin for their car payment.
Many people lose their enthusiasm after seeing this kind of news.
These are usually done by big marketers.
I think this is a deliberate propaganda, where big names are used to prove the news is true.
And this is done when Bitcoin is sold at a high📈price and then bought back at a low 📉 price.
Which is why I am noticing that some things have gone 〽 down.
I remembered when elon musk said he was going to accept some in Tesla because it should be faster and cheaper.
Just a Twitter post looking for engagement or whatever. His companies are heavily invested in btc looks like
Details about companies owning Bitcoin have been part of Bitcoin's history, but after the approval of US ETFs, such news has lost its significance and is no longer followed by many. Therefore, many people don't care whether SpaceX still owns Bitcoin or not.
You are right, but the media write the situation with a lot of drama in the past. But things are changing in America, and that could be a great change in the future. Im mean the Clarity Act, that could serve as a foundation for better security for companies. I know Bitcoin doesnt need that, but maybe companies like SpaceX need, and Elon Musk dont manipulating the DOGE price. I can imagine that in the future, Bitcoin will be accepted again at Tesla and will stay longer this time.
Your sincerity towards a project would be in doubt if you are inconsistent. I don't blame people who think that Elon Musk is using Bitcoin for publicity because he has not been a consistent promoter. In 2021, Elon stopped using Bitcoin to buy Tesla cars, citing environmental concerns. He has also criticised Bitcoin technology, claiming that the transaction process is slow and the fees are high.
Fast forward to his latest comment
His inconsistency is making people doubt his sincerity.
That's rightfor institutional investors, it's much more convenient to buy Bitcoin through an ETF, and these companies don't manage their own private keys either; they do so through Coinbase Custody or similar services.
There was a lot of anticipation that, with so many companies holding Bitcoin in one way or another, a supply shock would occur that would send the price skyrocketing. But so far, that hasn't happened; on the contrary, the price performance since the launch of Bitcoin ETFs and all this institutional adoption has been disappointing.
I think people are mixing two separate things here. A company holding Bitcoin on its balance sheet is not the same as that company using Bitcoin in any meaningful operational sense. If SpaceX has 18k BTC sitting there, that is treasury exposure, not adoption. Useful, interesting, and probably better than holding some fiat pile, but still not the same as paying suppliers, accepting BTC for Starlink globally, or settling launch contracts in Bitcoin.
Good luck to anyone trying to get in on the SpaceX IPO. I am going to try on 2 different brokerages, but from what I'm reading the odds are probably below 25% that I will even be able to get any...
Starship V3 test launch tomorrow. I was watching today but the launch got scrubbed in the final seconds. Some on one of the arms not retracting. Exciting times to be a space nerd!
Heheheheh it appears there are many people who are similar on your argument, however, does not separate what is really a good investment and what Elong is doing for attention only.
SpaceX and Tesla are holding bitcoin because this is very much a good investment. Elong putting a Doge meme on the rocket of SpaceX is certainly for attention only!
The rich have many good resources for their market manipulations but between Bitcoin and Dogecoin - both are Proof of Work, mineable coins - Bitcoin is better in blockchain security against 51% attacks to current and future adoption as well as value and price growths.
If want to check about security of Bitcoin and Dogecoin blockchains, this site is helpful.
https://howmanyconfs.com/
With Bitcoin blockchain, 6 confirmations equivalently to 1h 7m and if people want something similarly secured with Dogecoin blockchain, they will need 822 confirmations equivalently to 14h 9m. It means 13x slower with Dogecoin blockchain but these figures are estimates, while practically you will either lose your money or not. If Dogecoin blockchain is attacked 51%, in worst case you will lose your money in Dogecoin immediately after sending it under attack time, not have to wait till 14 hours later to lose money.
The real adoption can follow, at least they have acknowledged that Bitcoin is worth to hold and actually don't sell all their Bitcoin like what was rumoured.
Just like how other companies are slowly adopting bitcoin from treasury exposure to actually accepting it as payment method. If one day Starlink suddenly accepts BTC like you said, that'd be massive because frankly people need this because Starlink is available in so many countries but usually payment method is the biggest hurdle.
While it is good to see big companies having a reserve like this, the problem is that Elon Musk is not very stable. He can't be counted as a believer in Bitcoin even if the company has this amount of money, and since he is unpredictable he could dump it at any time. Remember these are some extremely profitable companies especially SpaceX since it has no real competitors. He could be buying more with the companies but he is not, he does not really care about this that is why I am not so positive. Should his stance change about it, I could consider the news more favorable.
This was not the real reason, it was just an excuse to throw to the public and that decision has also proved that he does not care about Bitcoin.
They are not, this is a small stake for companies of this size.
Significance to other companies and potential investors to that company? Yeah sure I can agree with that, but it has not lost its significance. The future of the Bitcoin standard implies that all kinds of companies will have Bitcoin in their reserves and I am talking about real reserves and not dumping it a few months or years later. So any big company having a reserve is a good thing. Many of these companies have way too much cash sitting around, we need to get this going.
I wonder why you wrote something false and made up when the same website clearly shows that Dogecoin is 28x slower, not 13x slower. Anyway such comparisons are incorrect because they are biased towards shitcoins, they do not consider the capital costs that are needed to get the mining going at all. A pure power by power estimate only gives part of the picture, so the reality is even worse for shitcoins.
We know that Elon Musk was interested in Bitcoin and started accumulating it a few years ago. It was a great news story at the time, but when he sold most of his Bitcoin holdings, we haven't heard anything about their Bitcoin holdings sinceit's been submerged in other news. However, with the recent disclosure that they hold 18,712 Bitcoins, it means they're still holding a small portion of their Bitcoin holdings as a reserve asset. While that may not be a significant amount compared to other companies, their continued holdings indicate they still view Bitcoin as a strategic reserve asset within their company, and it's possible they might start accumulating again (maybe not).
Im a little disappointed that Elon stopped buying Bitcoin years ago. He had the opportunity to be Saylor lite. I dont think he believes in Bitcoin that much, he isnt exactly full of conviction.
Made up?
I did not fake that number which is exactly what I copied from that site and pasted it in my post. You can check today, that the estimation figure changed and as of writing, figures are
You can say, these figures as that site estimations are not correct by their not too good formulas used for estimations, I would like to agree with you on this, but saying "I made it up", I can not agree with you.
In addition, I did not write anything to bias or shill Dogecoin or altcoins, and in my post I emphasized that even those estimation numbers don't show enough about weakness of altcoin blockchains.