SpaceX Defies Market Pressure, Holds Firm on Massive BTC Stash

SpaceX has maintained its Bitcoin position unchanged in Q2, despite MicroStrategy's decision to sell a significant portion of its BTC holdings. While MicroStrategy sold 1,638 Bitcoins between July 27 and August 2, SpaceX held firm on its 18,700 BTC stash. This move is seen as bullish for the crypto market, as it prevents further panic selling.

The company's strong revenue performance in Q2 beat Wall Street expectations, and its losses narrowed significantly. However, total capital expenditures reached $18.4 billion, with a staggering $15.8 billion allocated to AI computing infrastructure - an 85% increase from previous years.

SpaceX's unleveraged treasury model is seen as more bullish for Bitcoin than MicroStrategy's highly leveraged capital operation model. Unlike MicroStrategy, which had to sell its BTC due to financial difficulties, SpaceX will not be forced to liquidate its coins due to debt maturity or interest payment pressure.