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

Discussion (9 Comments)Read Original on HackerNews

keypusher•about 16 hours 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•about 11 hours 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•about 17 hours ago

Bitcoin is a good investment.

free_bip•about 16 hours ago

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

lesuorac•about 15 hours 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.

mint5•about 15 hours ago

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

lern_too_spel•about 14 hours ago

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

rogerkirkness•about 17 hours 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.

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

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Discussion (9 Comments)Read Original on HackerNews