SpaceX Suffers $540 Million Loss on Unmoved Bitcoin Holdings

SpaceX reported $540 million in paper losses on its Bitcoin holdings in Q2, despite not selling any of its digital assets. The company's Bitcoin position is valued at nearly $700 million, down 31% from the previous quarter.

According to SpaceX's IPO filing, it held 18,712 BTC on its balance sheet as of June 30. At a closing price of $58,558 per BTC, this aligns with the company's reported digital asset holdings of $1.1 billion.

SpaceX's Bitcoin position is now among the largest corporate holdings in the industry, ranking it 8th on the list of biggest corporate BTC holders. Tesla Inc., another Elon Musk-led company, also holds a significant amount of Bitcoin, with 11,509 BTC valued at over $740 million.