A new one has been added to the fluctuations in the cryptocurrency world. Elon Musk, who has not made statements about cryptocurrencies for a while, allegedly sold his Bitcoins. It was stated that the space company SpaceX disposed of the cryptocurrencies it owned. After this situation, there was a 10 percent drop in Bitcoin.
SpaceX sold its cryptocurrencies, Bitcoin fell to $25,000
It turns out that SpaceX has sold most of its Bitcoin holdings in recent months. According to the report in the US press, SpaceX reduced its investments in Bitcoin by $ 363 million in 2021 and 2022. After this step by Elon Musk, there was a noticeable decline in the Bitcoin price.
SpaceX first bought an undisclosed amount of Bitcoin in early 2021. However, Bitcoin started to lose value towards the end of 2021. Its price even halved within months, leading to millions of dollars in losses.
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Tesla, like SpaceX, reportedly divested most of its Bitcoin after making a large purchase in early 2021. These sales from Musk’s companies caused Bitcoin to fall even harder.
After these allegations, there were movements in cryptocurrency exchanges. Elon Musk’s sales led to huge losses in Bitcoin the other day. The price of the popular cryptocurrency fell by about 10 percent to $ 25,900.
The decline in Bitcoin has become even more worrying with rising interest rates in the US. The yield on US bonds has reached its highest level since 2007. This has led to a decline in the popularity of cryptocurrencies.
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